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Assembly Bill A2548

2013-2014 Legislative Session

Prohibits financial institutions from charging a fee in excess of five dollars to a customer based on account inactivity

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Archive: Last Bill Status - Stricken

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2013-A2548 (ACTIVE) - Details

Law Section:
Banking Law
Laws Affected:
Add ยง9-v, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9353, A3355
2011-2012: A3359
2015-2016: A3060
2017-2018: A3764

2013-A2548 (ACTIVE) - Summary

Prohibits financial institutions from charging a fee to a customer based on account inactivity.

2013-A2548 (ACTIVE) - Bill Text download pdf 

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

                                  2548

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 16, 2013
                               ___________

Introduced  by  M.  of  A.  GABRYSZAK, ORTIZ, GOTTFRIED, PEOPLES-STOKES,
  COLTON -- Multi-Sponsored by -- M. of A.  HOOPER,  McDONOUGH  --  read
  once and referred to the Committee on Banks

AN  ACT  to  amend the banking law, in relation to prohibiting financial
  institutions from charging a fee  in  excess  of  five  dollars  to  a
  customer based on account inactivity

  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. FEES BASED ON INACTIVITY PROHIBITED. NOTWITHSTANDING ANY OTHER
PROVISION OF LAW OR RULE OR REGULATION TO  THE  CONTRARY,  NO  FINANCIAL
INSTITUTION  SUBJECT  TO  THE  PROVISIONS OF THIS CHAPTER, INCLUDING ANY
BANK, TRUST COMPANY, SAVINGS BANK, SAVINGS AND LOAN ASSOCIATION,  CREDIT
UNION,  MORTGAGE  BROKER,  MORTGAGE  BANKER, OR OTHER INVESTMENT ENTITY,
WHETHER HEADQUARTERED WITHIN OR OUTSIDE THE  STATE,  WHICH  PROVIDES  AN
ACCOUNT  TO  A CUSTOMER SHALL CHARGE A FEE IN EXCESS OF FIVE DOLLARS PER
YEAR TO SUCH CUSTOMER BASED ON ACCOUNT INACTIVITY.
  S 2. This act shall take effect on the ninetieth day  after  it  shall
have become a law.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05645-01-3

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