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NY A09597
Bill
Status
Introduced
1/27/2020
Primary Sponsor
Kenneth Zebrowski
Click for details
AI Summary
- Prohibits banking institutions from charging customers fees when withdrawing all funds and closing an account, provided the account was open for at least 180 consecutive days prior to closing
- Bars banking institutions from honoring deposit or withdrawal requests after a customer is informed the account will be closed
- Prohibits banking institutions from keeping open or reopening an account after closure notification
- Prevents banking institutions from charging any fees to customers or former customers on closed accounts, except to recover amounts needed to satisfy negative balances existing at the time of closure
- Takes effect one year after the act becomes law
Legislative Description
Relates to establishing limitations on bank accounts after such accounts have been closed including opening or re-opening such account, requesting a deposit or withdrawal or assessing certain fees.
Last Action
referred to banks
1/27/2020
Committee Referrals
Banks1/27/2020
Full Bill Text
No bill text available