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NY S01065
Bill
Status
1/18/2023
Primary Sponsor
Shelley Mayer
Click for details
AI Summary
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Prohibits banking institutions from charging customers a fee for withdrawing all funds that results in account closure, provided the account was open for at least 180 consecutive days before closing.
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Prevents banking institutions from honoring deposit or withdrawal requests for closed accounts after the customer is notified of the closure.
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Prohibits banks from keeping open or reopening accounts after the customer is informed of closure.
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Prohibits banks from charging any fees to customers or former customers regarding closed accounts, except for recovering amounts needed to satisfy negative balances existing at the time of closure.
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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
2/6/2024