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Assembly Bill A8015

2017-2018 Legislative Session

Relates to prohibiting financial institutions from charging a fee for periodic paper statements

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Archive: Last Bill Status - In Assembly Committee

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2017-A8015 (ACTIVE) - Details

See Senate Version of this Bill:
S6865
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Add §9-x, Bank L
Versions Introduced in Other Legislative Sessions:
2019-2020: A4357, S2535
2021-2022: S5811
2023-2024: S2877
2025-2026: S4228

2017-A8015 (ACTIVE) - Summary

Relates to prohibiting financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

2017-A8015 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8015
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 25, 2017
                                ___________
 
 Introduced by M. of A. WEPRIN -- read once and referred to the Committee
   on Banks
 
 AN  ACT  to  amend the banking law, in relation to prohibiting financial
   institutions from charging a fee for periodic paper statements
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The banking law is amended by adding a new section 9-x to
 read as follows:
   § 9-X. FEES FOR PERIODIC PAPER STATEMENTS PROHIBITED.  NOTWITHSTANDING
 ANY OTHER PROVISION OF LAW OR RULE OR REGULATION  TO  THE  CONTRARY,  NO
 FINANCIAL INSTITUTION SUBJECT TO THE PROVISIONS OF THIS CHAPTER, INCLUD-
 ING ANY BANK, TRUST COMPANY, SAVINGS BANK, SAVINGS AND LOAN ASSOCIATION,
 CREDIT  UNION,  MORTGAGE  BROKER,  MORTGAGE  BANKER, OR OTHER INVESTMENT
 ENTITY,  WHETHER  HEADQUARTERED  WITHIN  OR  OUTSIDE  THE  STATE,  WHICH
 PROVIDES  AN ACCOUNT TO A CUSTOMER SHALL CHARGE A FEE FOR PERIODIC PAPER
 STATEMENTS WHEN SUCH STATEMENTS ARE  REQUIRED  FOR  AN  APPLICATION  FOR
 PUBLIC  ASSISTANCE  AS DEFINED IN SUBDIVISION NINETEEN OF SECTION TWO OF
 THE SOCIAL SERVICES LAW.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11841-02-7

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