Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 17, 2012 |
signed chap.403 |
Aug 06, 2012 |
delivered to governor |
Jun 18, 2012 |
returned to senate passed assembly ordered to third reading rules cal.313 substituted for a9787 |
Mar 26, 2012 |
referred to banks delivered to assembly passed senate |
Mar 13, 2012 |
advanced to third reading |
Mar 12, 2012 |
2nd report cal. |
Mar 07, 2012 |
1st report cal.313 |
Jan 13, 2012 |
print number 219a |
Jan 13, 2012 |
amend and recommit to banks |
Jan 04, 2012 |
referred to banks returned to senate died in assembly |
Apr 12, 2011 |
referred to banks delivered to assembly passed senate |
Mar 14, 2011 |
advanced to third reading |
Mar 10, 2011 |
2nd report cal. |
Mar 09, 2011 |
1st report cal.203 |
Jan 05, 2011 |
referred to banks |
Senate Bill S219
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - Signed by Governor
- 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
co-Sponsors
(R, C, IP) Senate District
(R, C, IP) Senate District
(R) Senate District
(R, C, IP) Senate District
2011-S219 - Details
- Law Section:
- Banking Law
- Laws Affected:
- Amd §9-s, Bank L
- Versions Introduced in 2009-2010 Legislative Session:
-
S1055
2011-S219 - Sponsor Memo
BILL NUMBER:S219 TITLE OF BILL: An act to amend the banking law, in relation to preauthorized electronic fund transfers PURPOSE: To protect consumers from having their bank accounts debited after they have canceled such authorization. SUMMARY OF PROVISIONS: Amends section 9-s of the banking law by adding subdivision 2 and 3, which prohibits the transfer of funds from a consumer account after the consumer has canceled authorization to debit their account, for any account entered into after January 1, 2011. JUSTIFICATION: Increasingly consumers are signing up to have bills paid by having their financial accounts debited. However, a problem has arisen that after this direct debiting has been canceled consumers are seeing a final payment deducted from their account. Consumers are unaware of this transaction and sometimes do not have enough funds to cover the debit. Sometimes the debit is for a termination fee that the consumer is unaware of and would like to challenge. This legislation does not prevent companies from collecting payment, it just states, that when an authorization for direct debiting is canceled, that it is final and future payment will have to be transferred in more conventional ways.
2011-S219 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 219 2011-2012 Regular Sessions I N S E N A T E (PREFILED) January 5, 2011 ___________ Introduced by Sens. MAZIARZ, BONACIC, FLANAGAN, FUSCHILLO, JOHNSON, RANZENHOFER, SEWARD -- read twice and ordered printed, and when print- ed to be committed to the Committee on Banks AN ACT to amend the banking law, in relation to preauthorized electronic fund transfers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 9-s of the banking law, as added by chapter 550 of the laws of 1998, is amended to read as follows: S 9-s. Preauthorized electronic fund transfers. 1. Every banking institution which provides preauthorized electronic fund transfers from consumer accounts shall, in accordance with regulations adopted by the banking board, provide consumers with the right to stop payment by giving written or oral notice within a specified period of time prior to such transfer. [Any banking institution which complies with the stop payment provisions of the federal Electronic Funds Transfer Act, as such act may be amended from time to time, and any regulations adopted pursu- ant thereto, shall be deemed to be in compliance with the provisions of this section.] For purposes of this section, "banking institution" shall mean any state or federally chartered bank, trust company, savings bank, savings and loan association or credit union, and "consumer account" shall mean an account used primarily for personal, family or household purposes. 2. NO AGREEMENT FOR PREAUTHORIZED ELECTRONIC FUND TRANSFERS ENTERED INTO ON OR AFTER JANUARY FIRST, TWO THOUSAND TWELVE SHALL PERMIT OR REQUIRE THE TRANSFER FROM A CONSUMER ACCOUNT OF ANY FUNDS AS A PENALTY OR A FINAL PAYMENT AFTER THE CONSUMER HAS GIVEN WRITTEN OR ORAL NOTICE TO STOP PAYMENT TO HIS OR HER FINANCIAL INSTITUTION. 3. ANY BANKING INSTITUTION WHICH COMPLIES WITH THE STOP PAYMENT PROVISIONS OF THE FEDERAL ELECTRONIC FUNDS TRANSFER ACT, AS SUCH ACT MAY EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
(R, C, IP) Senate District
(R, C, IP) Senate District
(R) Senate District
(R, C, IP) Senate District
2011-S219A (ACTIVE) - Details
- Law Section:
- Banking Law
- Laws Affected:
- Amd §9-s, Bank L
- Versions Introduced in 2009-2010 Legislative Session:
-
S1055
2011-S219A (ACTIVE) - Sponsor Memo
BILL NUMBER:S219A TITLE OF BILL: An act to amend the banking law, in relation to preauthorized electronic fund transfers PURPOSE: To protect consumers from having their bank accounts debited after they have canceled such authorization. SUMMARY OF PROVISIONS: Amends section 9-s of the banking law by adding subdivisions 2 and 3, which prohibits the transfer of funds from a consumer account after the consumer has canceled authorization to debit their account, for any account entered into after January 1, 2013. JUSTIFICATION: Increasingly consumers are signing up to have bills paid by having their financial accounts debited. However, a problem has arisen that after this direct debiting has been canceled consumers are seeing a final payment deducted from their account. Consumers are unaware of this transaction and sometimes do not have enough funds to cover the debit. Sometimes the debit is for a termination fee that the consumer is unaware of and would like to
2011-S219A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 219--A 2011-2012 Regular Sessions I N S E N A T E (PREFILED) January 5, 2011 ___________ Introduced by Sens. MAZIARZ, BONACIC, FLANAGAN, FUSCHILLO, JOHNSON, RANZENHOFER, SEWARD -- read twice and ordered printed, and when print- ed to be committed to the Committee on Banks -- recommitted to the Committee on Banks in accordance with Senate Rule 6, sec. 8 -- commit- tee discharged, bill amended, ordered reprinted as amended and recom- mitted to said committee AN ACT to amend the banking law, in relation to preauthorized electronic fund transfers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 9-s of the banking law, as added by chapter 550 of the laws of 1998 and as further amended by section 104 of part A of chapter 62 of the laws of 2011, is amended to read as follows: S 9-s. Preauthorized electronic fund transfers. 1. Every banking institution which provides preauthorized electronic fund transfers from consumer accounts shall, in accordance with regulations adopted by the superintendent of financial services, provide consumers with the right to stop payment by giving written or oral notice within a specified period of time prior to such transfer. [Any banking institution which complies with the stop payment provisions of the federal Electronic Funds Transfer Act, as such act may be amended from time to time, and any regulations adopted pursuant thereto, shall be deemed to be in compliance with the provisions of this section.] For purposes of this section, "banking institution" shall mean any state or federally char- tered bank, trust company, savings bank, savings and loan association or credit union, and "consumer account" shall mean an account used primari- ly for personal, family or household purposes. 2. NO AGREEMENT FOR PREAUTHORIZED ELECTRONIC FUND TRANSFERS ENTERED INTO ON OR AFTER JANUARY FIRST, TWO THOUSAND THIRTEEN SHALL PERMIT OR REQUIRE THE TRANSFER FROM A CONSUMER ACCOUNT OF ANY FUNDS AS A PENALTY EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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