Assembly Bill A424

2017-2018 Legislative Session

Provides for a minimum 15 day grace period before a late fee may be charged to a credit card holder unless there is local, on-line or telephone access available

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A424 (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Add §518-b, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3461
2011-2012: A3004
2013-2014: A3423
2015-2016: A5126

2017-A424 (ACTIVE) - Summary

Provides a fifteen day grace period for the imposition of late fees for credit card bills.

2017-A424 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    424
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 9, 2017
                                ___________
 
 Introduced  by  M. of A. PERRY -- Multi-Sponsored by -- M. of A. CAHILL,
   COLTON, COOK, HOOPER -- read once and referred  to  the  Committee  on
   Consumer Affairs and Protection
 
 AN  ACT  to  amend  the general business law, in relation to providing a
   grace period for the imposition of late fees for credit card bills

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new section
 518-b to read as follows:
   §  518-B.  CREDIT CARD ACCOUNT LATE FEES; FIFTEEN DAY GRACE PERIOD. NO
 ISSUER OF A CREDIT CARD DOING BUSINESS IN THIS STATE SHALL CHARGE A LATE
 FEE TO THE CREDIT CARD ACCOUNT OF ANY PERSON WHO FAILS TO TIMELY MAKE  A
 PAYMENT ON SUCH CREDIT CARD ACCOUNT, UNTIL AT LEAST FIFTEEN DAYS FOLLOW-
 ING THE DATE THAT SUCH PAYMENT WAS DUE.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06335-01-7

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