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NY A01940

Bill

Official Source

Status

Passed

9/13/2019

Primary Sponsor

Kenneth Zebrowski

Click for details

Origin

Assembly

2019-2020 General Assembly

AI Summary

  • Amends Banking Law Section 14-f to increase withdrawal transactions allowed without additional charge from basic banking accounts
  • Sets limit at eight withdrawal transactions per periodic cycle for account holders under 65 years of age
  • Sets limit at twelve withdrawal transactions per periodic cycle for account holders 65 years of age or older
  • Applies to all withdrawal transactions including those conducted at electronic facilities
  • Takes effect 60 days after enactment

Legislative Description

Increases the number of authorized withdrawal transactions at no charge from basic banking accounts for account holders sixty-five years of age or older from eight to twelve.

Last Action

signed chap.260

9/13/2019

Committee Referrals

Banks5/13/2019
Banks1/18/2019

Full Bill Text

No bill text available