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Assembly Bill A5175C

2013-2014 Legislative Session

Requires a study and report on banking products and services offered in low income communities

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Archive: Last Bill Status - In Senate Committee Banks Committee

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Bill Amendments

2013-A5175 - Details

See Senate Version of this Bill:
S4659
Current Committee:
Senate Banks
Law Section:
Banks
Versions Introduced in 2015-2016 Legislative Session:
A5980, S575

2013-A5175 - Summary

Requires a study and report on banking products and services offered in low income communities.

2013-A5175 - Bill Text download pdf 

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

                                  5175

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 20, 2013
                               ___________

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

AN  ACT  in relation to requiring a study and report on banking products
  and services offered in low  income  communities  and  the  impact  of
  traditional banks, credit unions and check casher services serving low
  income  communities;  and  providing for the repeal of such provisions
  upon expiration thereof

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

  Section 1. 1. The superintendent of financial services shall study and
issue a comprehensive report on banking products and services offered in
low  income  communities  and  the  impact  of traditional banks, credit
unions and check casher services serving low income communities.
  2. Such study and report carried out pursuant to  this  section  shall
address the following issues:
  (a)  which products and services are offered in low income communities
versus which products and services are offered in higher income communi-
ties;
  (b) review of whether different fees are charged by financial  service
providers  for  products  and  services in low income communities and in
higher income communities, including but not limited to,  use  of  auto-
mated  teller  machine  (ATM)  fees, checking account fees, and overdraw
fees;
  (c) review of whether  different  interest  rates  are  instituted  by
financial  service  providers  for  products  and services in low income
communities and in higher income communities, including but not  limited
to, savings account interest rates and interest rates on loans; and
  (d)  the  impact  of  payday  loans within low income communities, the
prevalence of such loans and the interest rates charged for such loans.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08898-01-3

A. 5175                             2

co-Sponsors

multi-Sponsors

2013-A5175A - Details

See Senate Version of this Bill:
S4659
Current Committee:
Senate Banks
Law Section:
Banks
Versions Introduced in 2015-2016 Legislative Session:
A5980, S575

2013-A5175A - Summary

Requires a study and report on banking products and services offered in low income communities.

2013-A5175A - Bill Text download pdf 

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

                                 5175--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 20, 2013
                               ___________

Introduced by M. of A. CRESPO -- read once and referred to the Committee
  on  Banks  -- committee discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT in relation to requiring a study and report on  banking  products
  and  services  offered  in  low  income  communities and the impact of
  traditional banks, credit unions and check casher services serving low
  income communities; and providing for the repeal  of  such  provisions
  upon expiration thereof

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

  Section 1. 1. The superintendent of financial services shall study and
issue a comprehensive report on banking products and services offered in
low income communities and  the  impact  of  traditional  banks,  credit
unions and check casher services serving low income communities.
  2.  Such  study  and report carried out pursuant to this section shall
address the following issues:
  (a) which products and services are offered in low income  communities
versus which products and services are offered in higher income communi-
ties;
  (b)  review of whether different fees are charged by financial service
providers for products and services in low  income  communities  and  in
higher  income  communities,  including but not limited to, use of auto-
mated teller machine (ATM) fees, checking  account  fees,  and  overdraw
fees;
  (c)  review  of  whether  different  interest  rates are instituted by
financial service providers for products  and  services  in  low  income
communities  and in higher income communities, including but not limited
to, savings account interest rates and interest rates on loans;
  (d) the impact of payday loans  within  low  income  communities,  the
prevalence  of such loans and the interest rates charged for such loans;
and

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08898-02-3

co-Sponsors

multi-Sponsors

2013-A5175B - Details

See Senate Version of this Bill:
S4659
Current Committee:
Senate Banks
Law Section:
Banks
Versions Introduced in 2015-2016 Legislative Session:
A5980, S575

2013-A5175B - Summary

Requires a study and report on banking products and services offered in low income communities.

2013-A5175B - Bill Text download pdf 

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

                                 5175--B

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 20, 2013
                               ___________

Introduced  by  M.  of  A.  CRESPO,  JAFFEE, STEVENSON, ROSA, MONTESANO,
  AUBRY, ROBERTS, CAHILL -- Multi-Sponsored by  --  M.  of  A.  BRENNAN,
  GABRYSZAK,  GIBSON, HEASTIE, KEARNS, V. LOPEZ, McDONALD, STECK -- read
  once and referred to the Committee on Banks --  committee  discharged,
  bill  amended,  ordered  reprinted  as amended and recommitted to said
  committee -- again  reported  from  said  committee  with  amendments,
  ordered reprinted as amended and recommitted to said committee

AN  ACT  in relation to requiring a study and report on banking products
  and services offered in low  income  communities  and  the  impact  of
  traditional banks, credit unions and check casher services serving low
  income  communities;  and  providing for the repeal of such provisions
  upon expiration thereof

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

  Section 1. 1. The superintendent of financial services shall study and
issue a comprehensive report on banking products and services offered in
low  income  communities  and  the  impact  of traditional banks, credit
unions and check casher services serving low income communities.
  2. Such study and report carried out pursuant to  this  section  shall
address the following issues:
  (a)  which products and services are offered in low income communities
versus which products and services are offered in higher income communi-
ties;
  (b) review of whether different fees are charged by financial  service
providers  for  products  and  services in low income communities and in
higher income communities, including but not limited to,  use  of  auto-
mated  teller  machine  (ATM) fees, checking account fees, and overdraft
fees;
  (c) review of whether  different  interest  rates  are  instituted  by
financial  service  providers  for  products  and services in low income

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08898-04-3

co-Sponsors

multi-Sponsors

2013-A5175C (ACTIVE) - Details

See Senate Version of this Bill:
S4659
Current Committee:
Senate Banks
Law Section:
Banks
Versions Introduced in 2015-2016 Legislative Session:
A5980, S575

2013-A5175C (ACTIVE) - Summary

Requires a study and report on banking products and services offered in low income communities.

2013-A5175C (ACTIVE) - Bill Text download pdf 

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

                                 5175--C

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 20, 2013
                               ___________

Introduced  by M. of A. CRESPO, JAFFEE, ROSA, MONTESANO, AUBRY, ROBERTS,
  CAHILL, WEPRIN -- Multi-Sponsored by -- M.  of  A.  BRENNAN,  HEASTIE,
  KEARNS,  McDONALD,  PERRY,  STECK  --  read  once  and referred to the
  Committee on Banks --  committee  discharged,  bill  amended,  ordered
  reprinted  as  amended  and  recommitted  to  said  committee -- again
  reported from said committee with  amendments,  ordered  reprinted  as
  amended  and  recommitted  to  said  committee  --  recommitted to the
  Committee on Banks in accordance with  Assembly  Rule  3,  sec.  2  --
  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 in relation to requiring a study and report on  banking  products
  and  services  offered  in  low  income  communities and the impact of
  traditional banks, credit unions and check casher services serving low
  income communities; and providing for the repeal  of  such  provisions
  upon expiration thereof

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

  Section 1. 1. The superintendent of financial services shall study and
issue a comprehensive report on banking products and services offered in
low income communities and  the  impact  of  traditional  banks,  credit
unions and check casher services serving low income communities.
  2.  Such  study  and report carried out pursuant to this section shall
address the following issues:
  (a) which products and services are offered in low income  communities
versus which products and services are offered in higher income communi-
ties;
  (b)  review of whether different fees are charged by financial service
providers for products and services in low  income  communities  and  in
higher  income  communities,  including but not limited to, use of auto-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08898-08-4

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