Bill
Bill > A03885
NY A03885
NY A03885Provides that any charges assessed by a credit card company for late payment shall not exceed one and one-half percent of the unpaid balance of any bill or fifteen dollars.
summary
Introduced
01/31/2019
01/31/2019
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
AN ACT to amend the general business law, in relation to credit card late charges The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill amends the New York General Business Law to limit late fees charged by credit card companies. Specifically, it states that any late fees assessed by a credit card company cannot exceed 1.5% of the unpaid balance of the bill, including any interest, or $15, whichever is less. This new provision aims to protect consumers from excessive late fees on their credit card payments.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
referred to consumer affairs and protection (on 01/08/2020)
bill text
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://assembly.state.ny.us/leg/?default_fld=&bn=A03885&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y | 02/01/2019 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A03885&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A03885 | 02/02/2019 |
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