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NY S00134
Bill
Status
4/20/2021
Primary Sponsor
Shelley Mayer
Click for details
AI Summary
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Prohibits banking institutions from charging close-out fees when customers withdraw all funds and close an account that has been open for at least 180 consecutive days.
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Prevents banks from honoring deposit or withdrawal requests after a customer is notified that their account will be closed.
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Prohibits banks from keeping open or reopening an account after the customer is informed of closure.
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Prohibits banks from charging any fees to customers or former customers 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 enactment.
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
3/2/2022