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NY A00240
Bill
Status
1/6/2021
Primary Sponsor
Kenneth Zebrowski
Click for details
AI Summary
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Prohibits banking institutions from charging customers a fee for withdrawing all funds and closing an account if the account was open for at least 180 consecutive days prior to closing.
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Prevents banking institutions from honoring deposits or withdrawals after a customer is informed the account will be closed.
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Prohibits banks from keeping open or reopening an account after the customer is informed it will be closed.
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Prohibits banks from charging fees on closed accounts, except to recover amounts needed to satisfy negative balances that existed when the account closed.
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Takes effect one year after becoming 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
1/5/2022