This bill mandates that subscription service providers must delete a consumer's payment information and any associated personal financial details within 30 days of receiving a cancellation request for an automatic renewal of a subscription service. The bill defines "automatic renewal" as a plan where a paid subscription is automatically renewed at the end of a specified term, and it outlines what constitutes a subscription service and a subscription service provider.

Violations of this bill are classified as unlawful practices under New Jersey's consumer fraud act, which carries penalties of up to $10,000 for first offenses and up to $20,000 for subsequent offenses. Additionally, the Attorney General may issue cease and desist orders, and violators may face punitive damages, as well as the possibility of treble damages and costs awarded to the injured party. The bill is set to take effect immediately upon enactment.