senate Bill S4659A

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 -


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

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Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 21, 2014 print number 4659b
amend and recommit to banks
Jan 08, 2014 referred to banks
May 30, 2013 print number 4659a
amend and recommit to banks
Apr 17, 2013 referred to banks

S4659 - Details

See Senate Version of this Bill:
S5505
Law Section:
Banks

S4659 - Summary

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

S4659 - Sponsor Memo

S4659 - Bill Text download pdf

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

                                  4659

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 17, 2013
                               ___________

Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
  printed to be committed 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;
  (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.
                                                           LBD08898-03-3

S4659A - Details

See Senate Version of this Bill:
S5505
Law Section:
Banks

S4659A - Summary

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

S4659A - Sponsor Memo

S4659A - Bill Text download pdf

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

                                 4659--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 17, 2013
                               ___________

Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
  printed to be  committed  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 overdraft
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,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08898-05-3

S4659B (ACTIVE) - Details

See Senate Version of this Bill:
S5505
Law Section:
Banks

S4659B (ACTIVE) - Summary

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

S4659B (ACTIVE) - Sponsor Memo

S4659B (ACTIVE) - Bill Text download pdf

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

                                 4659--B

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 17, 2013
                               ___________

Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
  printed to be  committed  to  the  Committee  on  Banks  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said committee -- recommitted to the Committee on Banks in accord-
  ance with Senate Rule 6, sec. 8 -- 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  overdraft
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;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08898-09-4

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