senate Bill S3960B

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

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Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 18, 2012 print number 3960b
amend (t) and recommit to finance
Apr 30, 2012 print number 3960a
amend and recommit to finance
Jan 18, 2012 reported and committed to finance
Jan 04, 2012 referred to consumer protection
May 10, 2011 reported and committed to finance
Mar 10, 2011 referred to consumer protection

Votes

view votes

Jan 18, 2012 - Consumer Protection committee Vote

S3960
9
0
committee
9
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Jan 18, 2012

aye wr (1)

May 10, 2011 - Consumer Protection committee Vote

S3960
10
0
committee
10
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

S3960 - Details

Law Section:
General Business Law
Laws Affected:
Amd §520-c, Gen Bus L; add §14-g, Bank L
Versions Introduced in 2009-2010 Legislative Session:
A6080

S3960 - 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.

S3960 - Sponsor Memo

S3960 - Bill Text download pdf

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

                                  3960

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 10, 2011
                               ___________

Introduced by Sen. FUSCHILLO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Consumer 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

S3960A - Details

Law Section:
General Business Law
Laws Affected:
Amd §520-c, Gen Bus L; add §14-g, Bank L
Versions Introduced in 2009-2010 Legislative Session:
A6080

S3960A - 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.

S3960A - Sponsor Memo

S3960A - Bill Text download pdf

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

                                 3960--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 10, 2011
                               ___________

Introduced by Sen. FUSCHILLO -- read twice and ordered printed, and when
  printed  to  be  committed  to the Committee on Consumer Protection --
  recommitted to the Committee on Consumer Protection in accordance with
  Senate Rule 6, sec. 8 -- reported favorably from  said  committee  and
  committed  to  the  Committee on Finance -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

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.
  B. THE TYPES OF ACCOUNTS AVAILABLE AT EACH BANK IN THIS STATE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00362-04-2

S3960B (ACTIVE) - Details

Law Section:
General Business Law
Laws Affected:
Amd §520-c, Gen Bus L; add §14-g, Bank L
Versions Introduced in 2009-2010 Legislative Session:
A6080

S3960B (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.

S3960B (ACTIVE) - Sponsor Memo

S3960B (ACTIVE) - Bill Text download pdf

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

                                 3960--B

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 10, 2011
                               ___________

Introduced by Sen. FUSCHILLO -- read twice and ordered printed, and when
  printed  to  be  committed  to the Committee on Consumer Protection --
  recommitted to the Committee on Consumer Protection in accordance with
  Senate Rule 6, sec. 8 -- reported favorably from  said  committee  and
  committed  to  the  Committee on Finance -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee  --  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
TRANSACTION  CHARGES, LATE PAYMENT FEES, OVER LIMIT FEES AND GRACE PERI-
ODS FOR CREDIT CARDS CAN BE OBTAINED.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00362-09-2

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