|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 12, 2014||reported and committed to finance|
|Jan 21, 2014||referred to consumer protection|
senate Bill S6391
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6391 - Details
S6391 - 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.
S6391 - Sponsor Memo
BILL NUMBER:S6391 TITLE OF BILL: 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 PURPOSE: To enable New York State consumers to access information about bank account and credit card account requirements and fees directly from an Internet website. SUMMARY OF PROVISIONS: Section 1. would add a new subdivision 1-a to § 520-c of the General Business law to direct the Department of Financial Services to establish on its website or to provide a link or links on its website for persons to obtain the same basic credit card account information currently made available by toll-free telephone number. Information on how to access such website would be printed and distributed in the same manner as the telephone number information described in subdivision one of the section and on credit card promotional material distributed by issuers of such cards. This information is currently required to be compiled and made available to the public. § 2 would amend the Banking law by adding a new § 14-g, which would
S6391 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6391 I N S E N A T E January 21, 2014 ___________ Introduced by Sen. MARTINS -- 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 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. 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. 2. THE SUPERINTENDENT IS AUTHORIZED AND DIRECTED TO PROVIDE ON THE WEBSITE OF THE DEPARTMENT THE INFORMATION DESCRIBED IN SUBDIVISION ONE OF THIS SECTION OR TO PROVIDE A LINK OR LINKS TO SUCH INFORMATION. 3. THE SUPERINTENDENT MAY PROMULGATE RULES AND REGULATIONS NECESSARY TO OBTAIN THE INFORMATION REQUIRED PURSUANT TO SUBDIVISION ONE OF THIS SECTION, IN A MANNER THAT WILL ENABLE THE SUPERINTENDENT TO UPDATE THE DEPARTMENT'S WEBSITE INFORMATION. S 3. This act shall take effect one year after it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01340-02-3
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