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Assembly Bill A1394A

2011-2012 Legislative Session

Requires posting notice of the department of financial services toll free consumer's hotline telephone number

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2011-A1394 - Details

Current Committee:
Assembly Codes
Law Section:
Banking Law
Laws Affected:
Amd §14-f, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6409
2013-2014: A4882
2015-2016: A8347
2017-2018: A3389
2019-2020: A3168

2011-A1394 - Summary

Requires posting notice of the department of financial services toll free consumer's hot-line telephone number.

2011-A1394 - Bill Text download pdf 

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

                                  1394

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by M. of A. ORTIZ -- read once and referred to the Committee
  on Banks

AN ACT to amend the banking law, in relation  to  a  financial  consumer
  bill of rights

  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-v  to
read as follows:
  S 9-V. FINANCIAL CONSUMER BILL OF RIGHTS. 1. THE LEGISLATURE FINDS AND
DECLARES  THAT CERTAIN CONSUMERS RESIDING IN THIS STATE MAY NOT BE AWARE
OF THEIR RIGHTS AS FINANCIAL CONSUMERS. IT IS THE POLICY OF THIS  STATE,
CONSISTENT  WITH  SAFE  AND SOUND BANKING PRACTICES, THAT BANKING INSTI-
TUTIONS  DISCLOSE  INFORMATION  REGARDING  WHERE  CONSUMERS   CAN   FILE
COMPLAINTS  IF  A  CONSUMER IS NOT SATISFIED WITH THE SERVICES A BANKING
INSTITUTION PROVIDES.
  2. EVERY BANKING INSTITUTION SHALL POST IN A PUBLIC AREA OF ITS OFFICE
THE NEW YORK STATE BANKING DEPARTMENT'S  TOLL  FREE  CONSUMER'S  HOTLINE
NUMBER  ALONG  WITH  ITS PURPOSE.   EVERY BANKING INSTITUTION SHALL ALSO
POST IN A PUBLIC AREA OF ITS OFFICE THE RIGHTS AN ACCOUNT HOLDER HAS  AS
DETERMINED  BY  THE SUPERINTENDENT PURSUANT TO SUBDIVISION THREE OF THIS
SECTION.
  3. THE SUPERINTENDENT SHALL DETERMINE AND PROMULGATE THE CONTENTS OF A
NOTICE SETTING FORTH THE RIGHTS OF FINANCIAL CONSUMERS FOR  PURPOSES  OF
THIS SECTION.
  4. AS USED IN THIS SECTION:
  (A)  "FINANCIAL  CONSUMER"  MEANS ANY PERSON WHO HOLDS AN ACCOUNT IN A
BANKING  INSTITUTION  PRIMARILY  FOR  PERSONAL,  FAMILY,  OR   HOUSEHOLD
PURPOSES.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03693-01-1

2011-A1394A (ACTIVE) - Details

Current Committee:
Assembly Codes
Law Section:
Banking Law
Laws Affected:
Amd §14-f, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6409
2013-2014: A4882
2015-2016: A8347
2017-2018: A3389
2019-2020: A3168

2011-A1394A (ACTIVE) - Summary

Requires posting notice of the department of financial services toll free consumer's hot-line telephone number.

2011-A1394A (ACTIVE) - Bill Text download pdf 

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

                                 1394--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by M. of A. ORTIZ -- read once and referred to the Committee
  on Banks -- recommitted to the Committee on Banks 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 banking law, in relation to requiring posting notice
  of  the  department of financial services toll free consumer's hotline
  telephone number

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The opening paragraph of subdivision 8 of section 14-f of
the banking law is designated paragraph (a) and a new paragraph  (b)  is
added to read as follows:
  (B)  WHERE  A  BANKING  INSTITUTION  POSTS  IN  THE PUBLIC AREA OF ITS
OFFICES THE NOTICES FOR INFORMATION REQUIRED IN PARAGRAPH  (A)  OF  THIS
SUBDIVISION,  IT  SHALL  ALSO  POST  EQUALLY  CONSPICUOUS NOTICE IN SUCH
PUBLIC AREAS AND IN THE SAME  MANNER,  OF  THE  DEPARTMENT'S  TOLL  FREE
CONSUMER'S HOTLINE TELEPHONE NUMBER, WHERE CONSUMERS CAN FILE COMPLAINTS
IF  A  CONSUMER IS NOT SATISFIED WITH THE SERVICES A BANKING INSTITUTION
PROVIDES.
  S 2. This act shall take effect on the one hundred twentieth day after
it shall have become a law.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03693-02-2

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