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Assembly Bill A6080

2009-2010 Legislative Session

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

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Archive: Last Bill Status - In Assembly Committee

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2009-A6080 (ACTIVE) - Details

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:
2011-2012: A4829
2013-2014: A3990

2009-A6080 (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.

2009-A6080 (ACTIVE) - Bill Text download pdf 

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

                                  6080

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 24, 2009
                               ___________

Introduced  by M. of A. P. RIVERA, ALFANO -- Multi-Sponsored by -- M. of
  A. BARRA -- read once  and  referred  to  the  Committee  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

  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 BANKING DEPARTMENT SHALL ESTABLISH AND MAINTAIN A WEBSITE  ON
THE  INTERNET  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 DISTRIB-
UTED IN THE SAME MANNER AS THE TELEPHONE NUMBER INFORMATION DESCRIBED IN
SUBDIVISION ONE OF THIS SECTION AND ON CREDIT CARD PROMOTIONAL  MATERIAL
DISTRIBUTED BY ISSUERS OF SUCH CARDS.
  S  2.  The banking law is amended by adding a new section 14-g to read
as follows:
  S 14-G. POWERS OF THE BANKING BOARD WITH REGARD TO  PROVIDING  CURRENT
BANKING  INFORMATION.  1.  THE  BANKING  BOARD  IS HEREBY AUTHORIZED AND
DIRECTED TO ESTABLISH AND MAINTAIN A WEBSITE ON THE INTERNET IN ORDER TO
PROVIDE UP-TO-DATE INFORMATION TO CURRENT AND POTENTIAL BANKING  CUSTOM-
ERS.  SUCH INFORMATION SHALL INCLUDE, BUT NOT BE LIMITED TO, THE FOLLOW-
ING:
  A. A TOLL-FREE TELEPHONE NUMBER WHERE A CUSTOMER MAY CALL TO GET ADDI-
TIONAL INFORMATION.
  B. THE TYPES OF ACCOUNTS AVAILABLE AT EACH BANK IN THIS STATE.
  C. REQUIREMENTS FOR OPENING AN ACCOUNT AT EACH BANK, INCLUDING MINIMUM
AND MAXIMUM BALANCES, IF ANY.
  D. ALL FEES CHARGED THE CUSTOMER, INCLUDING MONTHLY  FEES  AND  TRANS-
ACTION FEES.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00917-01-9

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