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NY A01935
Bill
Status
Introduced
1/18/2019
Primary Sponsor
Kenneth Zebrowski
Click for details
AI Summary
- Requires all financial institutions (banks, trust companies, savings banks, credit unions, mortgage brokers, and similar entities) to provide written notice to customers 30 days before charging any fee based on account inactivity
- Notice must include a telephone number and complete contact information for a financial institution representative who can address issues related to the fee
- Electronic mail notification satisfies the written notice requirement
- Applies to all financial institutions subject to New York banking law, whether headquartered in or outside the state
- 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; requires such notice to 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
enacting clause stricken
1/15/2020
Committee Referrals
Banks1/18/2019
Full Bill Text
No bill text available