Bill
Bill > S04428
NY S04428
NY S04428Provides 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
02/04/2021
02/04/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 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 late payment fees that credit card companies can charge. Specifically, it states that any late payment charges assessed by a credit card company cannot exceed 5% of the unpaid balance of the bill, including any interest, or $20, whichever amount is less. This provision aims to protect consumers from excessive late fees when they make late payments on their credit card bills.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
REFERRED TO CONSUMER PROTECTION (on 01/05/2022)
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://www.nysenate.gov/legislation/bills/2021/S4428 | 02/05/2021 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S04428&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S04428 | 02/05/2021 |
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