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NY A09210
Bill
Status
Engrossed
5/15/2024
Primary Sponsor
Jonathan Jacobson
Click for details
AI Summary
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Requires all banking organizations and out-of-state banks operating in New York to provide 60 days' notice before closing a customer's account, whether personal or business.
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Mandates banks provide the reason for account closure with the notice, except where prohibited by applicable federal law.
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Requires banks to return any remaining funds from closed accounts to the owner within 60 days after closure.
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Takes effect immediately upon enactment.
Legislative Description
Establishes standards for the closure of bank accounts in the state of New York to include providing notice of closure and the return of funds to account owners.
Last Action
REFERRED TO BANKS
5/15/2024
Committee Referrals
Banks5/15/2024
Banks2/16/2024
Full Bill Text
No bill text available