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NY S02245

Bill

Official Source

Status

Passed

9/13/2019

Primary Sponsor

James Sanders

Click for details

Origin

Senate

2019-2020 General Assembly

AI Summary

  • Amends Banking Law Section 14-f(2)(c) to differentiate withdrawal transaction limits based on account holder age
  • Reduces withdrawal transaction limit to 8 per periodic cycle at no charge for account holders under 65 years of age
  • Increases withdrawal transaction limit to 12 per periodic cycle at no charge for account holders 65 years of age or older
  • Applies limits to all withdrawal transactions including those conducted at electronic facilities
  • Takes effect 60 days after becoming law

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
Banks1/23/2019

Full Bill Text

No bill text available