Do you support this bill?

Assembly Bill A5980A

2015-2016 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Banks Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

Bill Amendments

co-Sponsors

2015-A5980 - Details

See Senate Version of this Bill:
S575
Current Committee:
Senate Banks
Law Section:
Banks
Versions Introduced in 2013-2014 Legislative Session:
A5175, S4659

2015-A5980 - Summary

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

2015-A5980 - Bill Text download pdf 

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

                                  5980

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              March 9, 2015
                               ___________

Introduced  by  M.  of  A.  CRESPO,  PICHARDO,  LINARES, BARRON, TITONE,
  JOYNER, MOSLEY, PERRY, COOK, STECK, ROBINSON, HOOPER, RIVERA,  BRENNAN
  -- 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 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.
                                                           LBD00184-01-5

co-Sponsors

2015-A5980A (ACTIVE) - Details

See Senate Version of this Bill:
S575
Current Committee:
Senate Banks
Law Section:
Banks
Versions Introduced in 2013-2014 Legislative Session:
A5175, S4659

2015-A5980A (ACTIVE) - Summary

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

2015-A5980A (ACTIVE) - Bill Text download pdf 

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

                                 5980--A
                                                        Cal. No. 226

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              March 9, 2015
                               ___________

Introduced  by  M.  of  A.  CRESPO,  PICHARDO,  LINARES, BARRON, TITONE,
  JOYNER, MOSLEY, PERRY, COOK, STECK, ROBINSON, HOOPER, RIVERA, BRENNAN,
  RODRIGUEZ -- read once and referred  to  the  Committee  on  Banks  --
  passed  by  Assembly  and  delivered  to the Senate, recalled from the
  Senate, vote reconsidered, bill amended, ordered reprinted,  retaining
  its place on the order of third reading

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.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.