Assembly Bill A5019A

2023-2024 Legislative Session

Relates to prohibiting financial institutions from charging a fee for periodic paper statements

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Current Bill Status - In Senate Committee Banks 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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Bill Amendments

co-Sponsors

multi-Sponsors

2023-A5019 - Details

See Senate Version of this Bill:
S2877
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §9-aa, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: S6865
2019-2020: S2535
2021-2022: S5811

2023-A5019 - Summary

Prohibits certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

2023-A5019 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5019
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced  by M. of A. HYNDMAN -- read once and referred to the Commit-
   tee on Banks
 
 AN ACT to amend the banking law, in relation  to  prohibiting  financial
   institutions from charging a fee for periodic paper statements
 
   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-aa  to
 read as follows:
   §  9-AA. FEES FOR PERIODIC PAPER STATEMENTS PROHIBITED.  NOTWITHSTAND-
 ING ANY OTHER PROVISION OF LAW OR RULE OR REGULATION TO THE CONTRARY, NO
 FINANCIAL INSTITUTION SUBJECT TO THE PROVISIONS OF THIS CHAPTER, INCLUD-
 ING 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 CHARGE A FEE FOR PERIODIC  PAPER
 STATEMENTS  WHEN  SUCH  STATEMENTS  ARE  REQUIRED FOR AN APPLICATION FOR
 PUBLIC ASSISTANCE AS DEFINED IN SUBDIVISION NINETEEN OF SECTION  TWO  OF
 THE SOCIAL SERVICES LAW.
   §  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.
                                                            LBD04605-01-3

co-Sponsors

multi-Sponsors

2023-A5019A (ACTIVE) - Details

See Senate Version of this Bill:
S2877
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §9-aa, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: S6865
2019-2020: S2535
2021-2022: S5811

2023-A5019A (ACTIVE) - Summary

Prohibits certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

2023-A5019A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5019--A
                                                         Cal. No. 226
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced  by  M.  of A. HYNDMAN, GIBBS, GUNTHER, HUNTER, SANTABARBARA,
   WOERNER, COLTON, ZINERMAN, WILLIAMS, SIMON, TAPIA, BENDETT,  GALLAHAN,
   JACKSON,  SAYEGH, JEAN-PIERRE -- Multi-Sponsored by -- M. of A. LEVEN-
   BERG, RAMOS -- read once and referred to the  Committee  on  Banks  --
   recommitted to the Committee on Banks in accordance with Assembly Rule
   3,  sec.  2  --  advanced  to  a third reading, passed by Assembly and
   delivered to the Senate, recalled from the Senate, vote  reconsidered,
   bill  amended,  ordered reprinted, retaining its place on the order of
   third reading
 
 AN ACT to amend the banking law,  in  relation  to  prohibiting  certain
   financial  institutions  from charging a fee for periodic paper state-
   ments
 
   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-aa to
 read as follows:
   § 9-AA. FEES FOR PERIODIC PAPER STATEMENTS PROHIBITED.    1.  NOTWITH-
 STANDING ANY OTHER PROVISION OF LAW OR RULE OR REGULATION TO THE CONTRA-
 RY,  NO FINANCIAL INSTITUTION SUBJECT TO THE PROVISIONS OF THIS CHAPTER,
 INCLUDING ANY BANKING ORGANIZATION, MORTGAGE BROKER OR MORTGAGE  BANKER,
 INTERSTATE  BRANCH  ESTABLISHED PURSUANT TO ARTICLE FIVE-C OF THIS CHAP-
 TER, OR OTHER INVESTMENT ENTITY SUBJECT TO REGULATION BY THE DEPARTMENT,
 WHICH PROVIDES AN ACCOUNT TO A CUSTOMER SHALL CHARGE A FEE FOR  PERIODIC
 PAPER  STATEMENTS  WHEN  SUCH STATEMENTS ARE REQUIRED FOR AN APPLICATION
 FOR PUBLIC ASSISTANCE AS DEFINED IN SUBDIVISION NINETEEN OF SECTION  TWO
 OF THE SOCIAL SERVICES LAW.
   2.  IF  ANY PROVISION OF THIS SECTION OR ITS APPLICATION TO ANY PERSON
 OR CIRCUMSTANCE IS HELD INVALID, THE INVALIDITY DOES  NOT  AFFECT  OTHER
 PROVISIONS  OR  APPLICATION  OF  THIS  SECTION WHICH CAN BE GIVEN EFFECT
 WITHOUT THE INVALID PROVISION  OR  APPLICATION,  AND  TO  THIS  END  THE
 PROVISIONS OF THIS SECTION ARE SEVERABLE.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.

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