Bill
Bill > A00397
NY A00397
NY A00397Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill, including any interest thereon, or twenty dollars, whichever amount is less.
summary
Introduced
01/09/2019
01/09/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill, including any interest thereon, or twenty dollars, whichever amount is less.
AI Summary
This bill limits the amount that credit card companies can charge for late payments. It states that any late payment fees assessed by a credit card company cannot exceed 5% of the unpaid balance of the bill, including any interest, or $20, whichever is less. This is intended to protect consumers from excessive late fees charged by credit card providers.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
referred to banks (on 01/08/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://assembly.state.ny.us/leg/?default_fld=&bn=A00397&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y | 01/08/2019 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A00397&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A00397 | 01/09/2019 |
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