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NY A03359

Bill

Official Source

Status

Introduced

1/25/2011

Primary Sponsor

Dennis Gabryszak

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Amends New York Banking Law by adding Section 9-V to prohibit financial institutions from charging inactivity fees exceeding five dollars per year
  • Applies to all financial institutions subject to banking law, including banks, trust companies, savings banks, savings and loan associations, credit unions, mortgage brokers, mortgage bankers, and other investment entities, whether headquartered in or outside New York
  • Takes effect ninety days after becoming law
  • Sponsored by Assembly Members Gabryszak, Ortiz, Gottfried, Peoples-Stokes, Pheffer, and Colton, with additional sponsors Hooper and McDonough

Legislative Description

Prohibits financial institutions from charging a fee to a customer based on account inactivity.

Last Action

reported referred to codes

5/31/2012

Committee Referrals

Codes5/31/2012
Banks1/25/2011

Full Bill Text

No bill text available