Assembly Bill A6409

2009-2010 Legislative Session

Provides for a financial consumer bill of rights to make consumers aware of where and how to file complaints when not satisfied with the service provided by the bank

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2009-A6409 (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Add ยง9-v, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: A1394
2013-2014: A4882
2015-2016: A8347
2017-2018: A3389
2019-2020: A3168

2009-A6409 (ACTIVE) - Summary

Provides for a financial consumer bill of rights to make consumers aware of where and how to file complaints when not satisfied with the service provided by a banking institution; requires posting within public areas of banking institutions the NYS banking department's hotline telephone number and the rights of account holders; directs the superintendent to promulgate the contents of notice.

2009-A6409 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6409

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              March 3, 2009
                               ___________

Introduced  by M. of A. ORTIZ -- read once and referred to the Committee
  on Banks

AN ACT to amend the banking law, in relation  to  a  financial  consumer
  bill of rights

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The banking law is amended by adding a new section  9-v  to
read as follows:
  S 9-V. FINANCIAL CONSUMER BILL OF RIGHTS. 1. THE LEGISLATURE FINDS AND
DECLARES  THAT CERTAIN CONSUMERS RESIDING IN THIS STATE MAY NOT BE AWARE
OF THEIR RIGHTS AS FINANCIAL CONSUMERS. IT IS THE POLICY OF THIS  STATE,
CONSISTENT  WITH  SAFE  AND SOUND BANKING PRACTICES, THAT BANKING INSTI-
TUTIONS  DISCLOSE  INFORMATION  REGARDING  WHERE  CONSUMERS   CAN   FILE
COMPLAINTS  IF  A  CONSUMER IS NOT SATISFIED WITH THE SERVICES A BANKING
INSTITUTION PROVIDES.
  2. EVERY BANKING INSTITUTION SHALL POST IN A PUBLIC AREA OF ITS OFFICE
THE NEW YORK STATE BANKING DEPARTMENT'S  TOLL  FREE  CONSUMER'S  HOTLINE
NUMBER  ALONG  WITH  ITS PURPOSE.   EVERY BANKING INSTITUTION SHALL ALSO
POST IN A PUBLIC AREA OF ITS OFFICE THE RIGHTS AN ACCOUNT HOLDER HAS  AS
DETERMINED  BY  THE SUPERINTENDENT PURSUANT TO SUBDIVISION THREE OF THIS
SECTION.
  3. THE SUPERINTENDENT SHALL DETERMINE AND PROMULGATE THE CONTENTS OF A
NOTICE SETTING FORTH THE RIGHTS OF FINANCIAL CONSUMERS FOR  PURPOSES  OF
THIS SECTION.
  4. AS USED IN THIS SECTION:
  (A)  "FINANCIAL  CONSUMER"  MEANS ANY PERSON WHO HOLDS AN ACCOUNT IN A
BANKING  INSTITUTION  PRIMARILY  FOR  PERSONAL,  FAMILY,  OR   HOUSEHOLD
PURPOSES.
  (B) "BANKING INSTITUTION" MEANS ANY BANK, TRUST COMPANY, SAVINGS BANK,
SAVINGS  AND  LOAN  ASSOCIATION,  OR CREDIT UNION OR BRANCH OF A FOREIGN
BANKING CORPORATION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09922-01-9

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.