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Legislation sponsored by three Assembly Democrats aimed at protecting consumers from predatory credit card solicitations was released by the Assembly Consumer Affairs Committee today in Trenton.

The bill, which is sponsored by Reed Gusciora, Linda Greenstein and Nelson Albano, is modeled after telemarketer “do-not-call” laws, and it would be the first of its kind in the nation if passed.

“Some credit card companies have found it easy to prey upon consumers who just can’t say ‘no,’ and who eventually end up facing a mountain of debt,” Gusciora says in a statement. “This is legalized predatory lending of the worst kind.”

Under the legislation, credit card companies would be prohibited from soliciting registered individuals via mail, email or phone. Companies would also be prohibited from issuing a credit card in the name of a person on the do-not-solicit list, which would be maintained by the state Division of Consumer Affairs. Violations would be prosecuted under the state’s Consumer Fraud Act; violators could be penalized with fines of up to $10,000 for a first offense.

In addition, registered consumers would not be held liable for any debt resulting from the use of an unsolicited card.

“Just as the do-not-call law brought peace to many New Jersey homes, this list could offer special peace of mind to families of seniors or the disabled, who are among the main targets of these solicitations,” Greenstein says in a statement. “We must stop the unending barrage of solicitations being dumped on individuals who may not have the ability to completely understand the consequences of unchecked credit card debt.”

The bill (A-801) now heads to the Assembly Appropriations Committee for further consideration.