House committee substitute deletes the provisions of the 1st edition, which provided additional protections to users of financial transaction cards and increased penalties for credit card fraud. Replaces them with a provision directing the Legislative Research Commission (LRC) to study the problem of credit card fraud in North Carolina.

Includes among the issues and topics to be studied: (1) the implementation of EMV Chip and Pin Technology in North Carolina, (2) the impact of the implementation of EMV Chip and Pin Technology on merchants and financial institutions in this state, (3) what the EMV Chip and Pin technology in our state will include and when the technology will be implemented, (4) whether North Carolina needs to enact any laws governing the use of banking devices and scanning devices, (5) the adequacy of current state laws governing fraud and identity theft, and (6) why the conviction rate for misdemeanor and felony credit card fraud is so low. Includes additional issues and topics to be studies and directs the Commission to study any other areas that it believes are necessary to determine how to reduce credit and debit card fraud.

Provides that the LRC may make an interim report that includes findings and legislative proposals to the 2015 General Assembly when it convenes in 2016. Directs LRC to make its final report to the 2017 General Assembly when it convenes.

Amends the long and short title to reflect the content of the bill as amended by the committee substitute.