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NY A09210

Bill

Status

Engrossed

5/15/2024

Primary Sponsor

Jonathan Jacobson

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • 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.

  • Mandates banks provide the reason for account closure with the notice, except where prohibited by applicable federal law.

  • Requires banks to return any remaining funds from closed accounts to the owner within 60 days after closure.

  • 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