senate Bill S748

2013-2014 Legislative Session

Provides for distribution, on the internet, of information to the public regarding credit card and banking rates, charges and other terms

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 27, 2013 reported and committed to finance
Jan 09, 2013 referred to consumer protection

Votes

view votes

Feb 27, 2013 - Consumer Protection committee Vote

S748
11
0
committee
11
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Consumer Protection committee vote details

Consumer Protection Committee Vote: Feb 27, 2013

Co-Sponsors

S748 - Details

See Assembly Version of this Bill:
A3990
Current Committee:
Law Section:
General Business Law
Laws Affected:
Amd §520-c, Gen Bus L; add §14-g, Bank L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3960B, A4829B
2009-2010: A6080

S748 - 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.

S748 - Sponsor Memo

S748 - Bill Text download pdf

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

                                   748

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by Sen. FUSCHILLO -- 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.

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