Assembly Bill A4829

2011-2012 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

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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Bill Amendments

co-Sponsors

multi-Sponsors

2011-A4829 - Details

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
2013-2014: A3990

2011-A4829 - 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.

2011-A4829 - Bill Text download pdf 

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

                                  4829

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 8, 2011
                               ___________

Introduced  by  M.  of  A.  P. RIVERA  --  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.
                                                           LBD00362-01-1

co-Sponsors

multi-Sponsors

2011-A4829A - Details

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
2013-2014: A3990

2011-A4829A - 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.

2011-A4829A - Bill Text download pdf 

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

                                 4829--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 8, 2011
                               ___________

Introduced  by M. of A. P. RIVERA, STEVENSON, COLTON, N. RIVERA, REILLY,
  WEPRIN, ROBINSON, CASTRO -- Multi-Sponsored by --  M.  of  A.  BARRON,
  BOYLAND,  CASTELLI,  GABRYSZAK,  GIBSON, HEASTIE, McENENY, SALADINO --
  read once and referred  to  the  Committee  on  Consumer  Affairs  and
  Protection  --  recommitted  to  the Committee on Consumer Affairs and
  Protection in accordance with Assembly Rule 3,  sec.  2  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

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 DEPARTMENT OF FINANCIAL SERVICES 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 DISTRIBUTED IN THE SAME MANNER AS THE TELEPHONE  NUMBER  INFORMATION
DESCRIBED  IN  SUBDIVISION ONE OF THIS SECTION AND ON CREDIT CARD PROMO-
TIONAL 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 SUPERINTENDENT WITH REGARD TO PROVIDING CURRENT
BANKING INFORMATION. 1. THE  SUPERINTENDENT  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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00362-05-2

co-Sponsors

multi-Sponsors

2011-A4829B (ACTIVE) - Details

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
2013-2014: A3990

2011-A4829B (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.

2011-A4829B (ACTIVE) - Bill Text download pdf 

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

                                 4829--B

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 8, 2011
                               ___________

Introduced  by M. of A. P. RIVERA, STEVENSON, COLTON, N. RIVERA, REILLY,
  WEPRIN, ROBINSON, CASTRO -- Multi-Sponsored by --  M.  of  A.  BARRON,
  BOYLAND,  CASTELLI,  GABRYSZAK,  GIBSON, HEASTIE, McENENY, SALADINO --
  read once and referred  to  the  Committee  on  Consumer  Affairs  and
  Protection  --  recommitted  to  the Committee on Consumer Affairs and
  Protection in accordance with Assembly Rule 3,  sec.  2  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  -- reported and referred to the Committee on Ways
  and Means -- committee discharged, bill amended, ordered reprinted  as
  amended and recommitted to said committee

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
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 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00362-08-2

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