Assembly Bill A2549

2013-2014 Legislative Session

Requires financial institutions to notify a customer prior to charging a fee based on account inactivity

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Sponsored By

Archive: Last Bill Status - Stricken

  • 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

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2013-A2549 (ACTIVE) - Details

Law Section:
Banking Law
Laws Affected:
Add ยง9-v, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9352, A3134
2011-2012: A2795
2015-2016: A3062
2017-2018: A7740
2019-2020: A1935, A9140

2013-A2549 (ACTIVE) - Summary

Requires financial institutions to notify a customer thirty days prior to charging a fee based on account inactivity; such notice shall include a telephone number and the full contact information of a representative of the financial institution responsible for resolving any matter relating to the fee.

2013-A2549 (ACTIVE) - Bill Text download pdf 

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

                                  2549

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 16, 2013
                               ___________

Introduced by M. of A. GABRYSZAK, ORTIZ, CAHILL, BOYLAND, COLTON, MILLER
  --  Multi-Sponsored  by -- M. of A. FARRELL, McDONOUGH, PEOPLES-STOKES
  -- read once and referred to the Committee on Banks

AN ACT to amend the banking law,  in  relation  to  requiring  financial
  institutions  to  notify  a  customer prior to charging a fee based on
  account inactivity

  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. FEES BASED ON  INACTIVITY;  NOTIFICATION.  NOTWITHSTANDING  ANY
OTHER PROVISION OF LAW OR RULE OR REGULATION TO THE CONTRARY, ANY FINAN-
CIAL  INSTITUTION  SUBJECT  TO THE PROVISIONS OF THIS CHAPTER, INCLUDING
ANY BANK, TRUST COMPANY, SAVINGS BANK,  SAVINGS  AND  LOAN  ASSOCIATION,
CREDIT  UNION,  MORTGAGE  BROKER,  MORTGAGE  BANKER, OR OTHER INVESTMENT
ENTITY,  WHETHER  HEADQUARTERED  WITHIN  OR  OUTSIDE  THE  STATE,  WHICH
PROVIDES  AN  ACCOUNT  TO A CUSTOMER SHALL PROVIDE WRITTEN NOTICE OF THE
PENDING CHARGES TO A CUSTOMER THIRTY DAYS  PRIOR  TO  CHARGING  ANY  FEE
BASED  ON  ACCOUNT  INACTIVITY.  SUCH  NOTICE  SHALL INCLUDE A TELEPHONE
NUMBER AND FULL CONTACT INFORMATION FOR A REPRESENTATIVE OF  THE  FINAN-
CIAL  INSTITUTION  RESPONSIBLE  FOR RESOLVING ANY MATTER RELATING TO THE
FEE.
  S 2. This act shall take effect on the ninetieth day  after  it  shall
have become a law.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05639-01-3

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