Assembly Bill A3990

2013-2014 Legislative Session

Provides for distribution, on the internet, of information to the public regarding credit card and banking rates, charges and other terms

download bill text pdf

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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

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2013-A3990 (ACTIVE) - Details

See Senate Version of this Bill:
S6391
Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Amd §520-c, Gen Bus L; add §14-g, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6080
2011-2012: A4829, S3960
2015-2016: S212

2013-A3990 (ACTIVE) - Summary

Provides for distribution to the public, over the internet, of information regarding credit card rates, charges, terms and other conditions; further provides for dissemination of information over the internet regarding types of bank accounts available, requirements for opening an account, and all fees charged the customer, including monthly fees and transaction fees.

2013-A3990 (ACTIVE) - Bill Text download pdf 

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

                                  3990

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 30, 2013
                               ___________

Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
  tee on Consumer Affairs and Protection

AN  ACT  to  amend  the  general  business  law  and the banking law, in
  relation to providing information to the public  on  the  internet  or
  providing a link or links to such information

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

  Section 1. Section 520-c of the general business  law  is  amended  by
adding a new subdivision 1-a to read as follows:
  1-A.  THE  DEPARTMENT  OF  FINANCIAL  SERVICES  SHALL ESTABLISH ON ITS
WEBSITE OR PROVIDE A LINK OR LINKS ON ITS WEBSITE FOR PERSONS TO  OBTAIN
THE  SAME  INFORMATION MADE AVAILABLE BY TOLL-FREE TELEPHONE PURSUANT TO
SUBDIVISION ONE OF THIS SECTION.  INFORMATION  ON  HOW  TO  ACCESS  SUCH
WEBSITE SHALL BE PRINTED AND DISTRIBUTED IN THE SAME MANNER AS THE TELE-
PHONE NUMBER INFORMATION DESCRIBED IN SUBDIVISION ONE OF THIS SECTION.
  S  2.  The banking law is amended by adding a new section 14-g to read
as follows:
  S 14-G.  POWERS OF THE SUPERINTENDENT WITH REGARD TO PROVIDING CURRENT
BANKING INFORMATION. 1. THE SUPERINTENDENT IS AUTHORIZED AND DIRECTED TO
PROVIDE THROUGH A  TOLL-FREE  TELEPHONE  SERVICE  AT  WHICH  INFORMATION
INCLUDING  BUT  NOT LIMITED TO ANNUAL PERCENTAGE RATES, ANNUAL FEES, PER
TRANSACTION CHARGES, LATE PAYMENT FEES, OVER LIMIT FEES AND GRACE  PERI-
ODS FOR CREDIT CARDS CAN BE OBTAINED.
  2.  THE  SUPERINTENDENT  IS  AUTHORIZED AND DIRECTED TO PROVIDE ON THE
WEBSITE OF THE DEPARTMENT THE INFORMATION DESCRIBED IN  SUBDIVISION  ONE
OF THIS SECTION OR TO PROVIDE A LINK OR LINKS TO SUCH INFORMATION.
  3.  THE  SUPERINTENDENT MAY PROMULGATE RULES AND REGULATIONS NECESSARY
TO OBTAIN THE INFORMATION REQUIRED PURSUANT TO SUBDIVISION ONE  OF  THIS
SECTION,  IN  A MANNER THAT WILL ENABLE THE SUPERINTENDENT TO UPDATE THE
DEPARTMENT'S WEBSITE INFORMATION.
  S 3. This act shall take effect one year after it shall have become  a
law.

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

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