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Bill > A07650
NY A07650
NY A07650Requires financial institutions to send a written notification of overdraft fees charged to account holders every 180 days.
summary
Introduced
05/19/2021
05/19/2021
In Committee
06/10/2021
06/10/2021
Crossed Over
06/10/2021
06/10/2021
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
AN ACT to amend the banking law, in relation to requiring a written notification of overdraft fees charged to certain account holders
AI Summary
This bill requires financial institutions, including banks, trust companies, and credit unions, to provide written notification to account holders every 180 days of any overdraft fees charged. The notification must include the dates and amounts of the fees, the total amount charged, information on the customer's ability to negotiate the fees, and contact information for a representative of the financial institution responsible for resolving any issues related to the fees. The bill also allows for electronic notification if selected by the account holder. The bill will take effect on January 1, 2022.
Committee Categories
Business and Industry, Housing and Urban Affairs
Sponsors (2)
Last Action
REFERRED TO RULES (on 06/10/2021)
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://www.nysenate.gov/legislation/bills/2021/A7650 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A07650&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A07650 |
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