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NY A09659

Bill

Official Source

Status

Vetoed

12/15/2022

Primary Sponsor

Patricia Fahy

Click for details

Origin

Assembly

2021-2022 General Assembly

AI Summary

  • Requires financial institutions in New York to provide written notice of overdraft fees to account holders every 180 days.
  • Notice must include dates and amounts of overdraft fees, total amount charged, information on negotiating fees, and contact information for a representative.
  • Electronic notification satisfies the writing requirement if the account holder selects that option.
  • Applies to banks, trust companies, savings banks, credit unions, mortgage brokers, mortgage bankers, and other investment entities operating in the state.
  • Takes effect January 1, 2023.

Legislative Description

Requires financial institutions to send a written notification of overdraft fees charged to account holders every 180 days.

Last Action

tabled

12/16/2022

Committee Referrals

Banks5/16/2022
Banks3/28/2022

Full Bill Text

No bill text available