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NY A02795
Bill
Status
1/20/2011
Primary Sponsor
Dennis Gabryszak
Click for details
AI Summary
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Requires all financial institutions operating in New York (banks, credit unions, savings banks, mortgage brokers, and other investment entities) to provide written notice 30 days before charging any fee based on account inactivity
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Notice must include a telephone number and full contact information for a financial institution representative responsible for resolving matters related to the fee
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Applies to financial institutions headquartered within or outside New York State that provide accounts to customers
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Takes effect 90 days after becoming law
Legislative Description
Requires financial institutions to notify a customer thirty days prior to charging a fee based on account inactivity; such notice shall include a telephone number and the full contact information of a representative of the financial institution responsible for resolving any matter relating to the fee.
Last Action
advanced to third reading cal.404
3/16/2012