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Senate Bill S2459

2017-2018 Legislative Session

Enacts the "banking consumer protection act of 2017"

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Sponsored By

Archive: Last Bill Status - In Senate Committee Banks Committee

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2017-S2459 (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Ren §75-o to be §75-p, add §75-o, Bank L
Versions Introduced in 2015-2016 Legislative Session:
S6215

2017-S2459 (ACTIVE) - Summary

Enacts the "banking consumer protection act of 2017;" relates to voluntary limits on ATM withdrawals.

2017-S2459 (ACTIVE) - Sponsor Memo

2017-S2459 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2459
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2017
                                ___________
 
 Introduced  by Sen. HAMILTON -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 AN ACT to amend the banking law, in relation to voluntary limits on  ATM
   withdrawals
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. This act shall be known and may be cited  as  the  "Banking
 Consumer Protection Act of 2017".
   §  2.  Section  75-o  of  the banking law is renumbered 75-p and a new
 section 75-o is added to read as follows:
   § 75-O. VOLUNTARY LIMITS ON ATM WITHDRAWALS.  ANY BANK OR CREDIT UNION
 OPERATING IN THIS STATE UNDER A STATE CHARTER SHALL PERMIT ITS CONSUMERS
 TO OPT INTO A PROGRAM BY WHICH ATM WITHDRAWALS WOULD BE LIMITED  TO  ONE
 HUNDRED DOLLARS PER DAY.
   § 3. This act shall take effect on the one hundred eightieth day after
 it shall have become a law; provided, however, that effective immediate-
 ly,  the  addition,  amendment,  and/or repeal of any rule or regulation
 necessary for the implementation of this act on its  effective  date  is
 authorized to be made and completed on or before such effective date.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00738-01-7

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