Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 11, 2016 |
reported and committed to finance |
Apr 29, 2016 |
print number 575a |
Apr 29, 2016 |
amend and recommit to banks |
Jan 06, 2016 |
referred to banks |
Jan 07, 2015 |
referred to banks |
Senate Bill S575A
2015-2016 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Finance 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
Actions
Votes
Bill Amendments
2015-S575 - Details
- See Assembly Version of this Bill:
- A5980
- Current Committee:
- Senate Finance
- Law Section:
- Banks
- Versions Introduced in 2013-2014 Legislative Session:
-
S4659, A5175
2015-S575 - Sponsor Memo
BILL NUMBER: S575 TITLE OF BILL : An act in relation to requiring a study and report on banking products and services offered in low income communities and the impact of traditional banks, credit unions and check casher services serving low income communities; and providing for the repeal of such provisions upon expiration thereof PURPOSE: OR GENERAL IDEA OF THE BILL : A long history of discriminatory banking policies and practices has left low income communities with limited financial service options, costly banking fees, and a proliferation of financial services with exorbitant fees and interest rates. A review of the current state of banking and financial services in low income communities is needed in order to access overall impact on the residents of these communities. SUMMARY OF SPECIFIC PROVISIONS : Section 1: 1. The superintendent of financial services shall study and issue a comprehensive report on banking products and services offered in low income communities and the impact of traditional banks, credit unions and check casher services serving low income communities. 2. Such study and report carried out pursuant to this section shall address the following issues:
2015-S575 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 575 2015-2016 Regular Sessions I N S E N A T E (PREFILED) January 7, 2015 ___________ Introduced by Sen. SQUADRON -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT in relation to requiring a study and report on banking products and services offered in low income communities and the impact of traditional banks, credit unions and check casher services serving low income communities; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 1. The superintendent of financial services shall study and issue a comprehensive report on banking products and services offered in low income communities and the impact of traditional banks, credit unions and check casher services serving low income communities. 2. Such study and report carried out pursuant to this section shall address the following issues: (a) which products and services are offered in low income communities versus which products and services are offered in higher income communi- ties; (b) review of whether different fees are charged by financial service providers for products and services in low income communities and in higher income communities, including but not limited to, use of auto- mated teller machine (ATM) fees, checking account fees, and overdraft fees; (c) review of whether different interest rates are instituted by financial service providers for products and services in low income communities and in higher income communities, including but not limited to, savings account interest rates and interest rates on loans; (d) the impact of payday loans within low income communities, the prevalence of such loans and the interest rates charged for such loans, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00184-01-5
co-Sponsors
(D, WF) Senate District
2015-S575A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5980
- Current Committee:
- Senate Finance
- Law Section:
- Banks
- Versions Introduced in 2013-2014 Legislative Session:
-
S4659, A5175
2015-S575A (ACTIVE) - Sponsor Memo
BILL NUMBER: S575A TITLE OF BILL : An act in relation to requiring a study and report on banking products and services offered in low income communities and the impact of traditional banks, credit unions and check casher services serving low income communities; and providing for the repeal of such provisions upon expiration thereof PURPOSE OR GENERAL IDEA OF THE BILL : A long history of discriminatory banking policies and practices has left low income communities with limited financial service options, costly banking fees, and a proliferation of financial services with exorbitant fees and interest rates. A review of the current state of banking and financial services in low income communities is needed in order to access overall impact on the residents of these communities. SUMMARY OF SPECIFIC PROVISIONS : Section 1: 1. The superintendent of financial services shall study and issue a comprehensive report on banking products and services offered in low income communities and the impact of traditional banks, credit unions and check casher services serving low income communities.
2015-S575A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 575--A 2015-2016 Regular Sessions I N S E N A T E (PREFILED) January 7, 2015 ___________ Introduced by Sen. SQUADRON -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- recommitted to the Committee on Banks in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT in relation to requiring a study and report on banking products and services offered in low income communities and the impact of traditional banks, credit unions and check casher services serving low income communities; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 1. The superintendent of financial services shall study and issue a comprehensive report on banking products and services offered in low income communities and the impact of traditional banks, credit unions and check casher services serving low income communities. 2. Such study and report carried out pursuant to this section shall address the following issues: (a) which products and services are offered in low income communities versus which products and services are offered in higher income communi- ties; (b) review of whether different fees are charged by financial service providers for products and services in low income communities and in higher income communities, including but not limited to, use of auto- mated teller machine (ATM) fees, checking account fees, and overdraft fees; (c) review of whether different interest rates are instituted by financial service providers for products and services in low income communities and in higher income communities, including but not limited to, savings account interest rates and interest rates on loans; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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