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NY A02548

Bill

Official Source

Status

Introduced

1/16/2013

Primary Sponsor

Dennis Gabryszak

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Amends New York Banking Law by adding section 9-V to regulate inactivity fees charged by financial institutions
  • Prohibits banks, trust companies, savings banks, savings and loan associations, credit unions, mortgage brokers, mortgage bankers, and other investment entities from charging fees exceeding five dollars per year based on account inactivity
  • Applies to financial institutions headquartered within or outside New York State that provide accounts to customers
  • Takes effect ninety days after becoming law

Legislative Description

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

Last Action

enacting clause stricken

1/15/2014

Committee Referrals

Banks1/8/2014
Codes3/19/2013
Banks1/16/2013

Full Bill Text

No bill text available