assembly Bill A9659

Vetoed By Governor
2021-2022 Legislative Session

Requires a written notification of overdraft fees charged to certain account holders

download bill text pdf

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Archive: Last Bill Status - Vetoed by Governor

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

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Dec 16, 2022 tabled
Dec 15, 2022 vetoed memo.104
Dec 06, 2022 delivered to governor
May 31, 2022 returned to assembly
passed senate
3rd reading cal.1540
substituted for s7202a
May 16, 2022 referred to banks
delivered to senate
passed assembly
Apr 28, 2022 advanced to third reading cal.575
Apr 26, 2022 reported
Mar 28, 2022 referred to banks

Votes

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May 31, 2022 - floor Vote

A9659
48
15
floor
48
Aye
15
Nay
0
Absent
0
Excused
0
Abstained
show floor vote details

Floor Vote: May 31, 2022

aye (48)
nay (15)

Co-Sponsors

A9659 (ACTIVE) - Details

See Senate Version of this Bill:
S7202
Law Section:
Banking Law
Laws Affected:
Add §9-z, Bank L
Versions Introduced in 2023-2024 Legislative Session:
A3248

A9659 (ACTIVE) - Summary

Requires financial institutions to send a written notification of overdraft fees charged to account holders every 180 days.

A9659 (ACTIVE) - Bill Text download pdf 

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9659
 
                           I N  A S S E M B L Y
 
                              March 28, 2022
                                ___________
 
 Introduced  by  M. of A. FAHY -- read once and referred to the Committee
   on Banks
 
 AN ACT to amend the banking law, in  relation  to  requiring  a  written
   notification of overdraft fees charged to certain account holders
 
   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-z  to
 read as follows:
   §  9-Z. FEES BASED ON OVERDRAFT OF ACCOUNT; NOTIFICATION. 1.  NOTWITH-
 STANDING ANY OTHER PROVISION OF LAW OR RULE OR REGULATION TO THE CONTRA-
 RY, ANY FINANCIAL INSTITUTION SUBJECT TO THE PROVISIONS OF THIS CHAPTER,
 INCLUDING ANY BANK, TRUST COMPANY, SAVINGS BANK, SAVINGS AND LOAN  ASSO-
 CIATION,  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 PROVIDE WRITTEN NOTICE OF
 FEES CHARGED DUE TO OVERDRAFT OF AN ACCOUNT  EVERY  ONE  HUNDRED  EIGHTY
 DAYS. SUCH NOTICE SHALL INCLUDE:
   (A) DATES AND AMOUNTS OF OVERDRAFT FEES;
   (B) THE TOTAL AMOUNT CHARGED;
   (C) INFORMATION ON THE CUSTOMER'S ABILITY TO NEGOTIATE FEES; AND
   (D)  A  TELEPHONE  NUMBER AND FULL CONTACT INFORMATION FOR A REPRESEN-
 TATIVE OF THE FINANCIAL INSTITUTION RESPONSIBLE FOR RESOLVING ANY MATTER
 RELATING TO SUCH FEE.
   2. A NOTIFICATION  BY  ELECTRONIC  MEANS  SHALL  SATISFY  THE  WRITING
 REQUIREMENT  FOR THE PURPOSES OF THIS SECTION IF SUCH OPTION IS SELECTED
 BY THE ACCOUNT HOLDER.
   § 2. This act shall take effect January 1, 2023.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11577-06-2