Senate Bill S9348

Signed By Governor
2021-2022 Legislative Session

Directs the superintendent of financial services to study overdraft fees

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • 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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2021-S9348 (ACTIVE) - Details

See Assembly Version of this Bill:
A8292
Law Section:
Financial Services

2021-S9348 (ACTIVE) - Summary

Directs the superintendent of financial services to study overdraft fees and prepare a report to be delivered to the governor, the temporary president of the senate and the speaker of the assembly.

2021-S9348 (ACTIVE) - Sponsor Memo

2021-S9348 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9348
 
                             I N  S E N A T E
 
                               May 18, 2022
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 AN ACT in relation to directing the superintendent of financial services
   to study overdraft fees
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The  superintendent  of financial services, or his or her
 designee, shall conduct a study of overdraft fees  in  the  state.  Such
 study shall examine, but not be limited to:
   (a) the total amount of overdraft fees paid in New York;
   (b) geographical distribution of such fees;
   (c)  identify  any  communities that have high rates of overdraft fees
 and the possible reason for such high rates;
   (d) the percentage of overdraft fees reduced through direct  or  indi-
 rect negotiation; and
   (e) enumeration of consumer rights relating to fee negotiations.
   § 2. No later than twelve months after the effective date of this act,
 the  superintendent of financial services, or his or her designee, shall
 deliver a report of the findings of  the  study  conducted  pursuant  to
 section  one of this act to the governor, the temporary president of the
 senate and the speaker of the assembly. Such report shall be  posted  on
 the department of financial services' website.
   § 3. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11576-01-1



              

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