summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to fees for certain inactive bank accounts. Financial Services.
AI Summary
This bill amends Section 5 of Chapter 167D of the General Laws to allow banks to charge fees for inactive bank accounts. The existing law prohibited banks from charging certain fees, such as maintenance or service fees, on deposit accounts. This bill adds an exception to allow banks to charge fees specifically for inactive accounts, which are accounts that have had no customer-initiated activity for a certain period of time. This change gives banks more flexibility in managing inactive accounts while still preserving protections for active accounts.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Accompanied a study order, see H5160 (on 12/01/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H1107 |
| Bill | https://malegislature.gov/Bills/191/H1107.pdf |
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