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Bill > S07202
NY S07202
NY S07202Requires financial institutions to send a written notification of overdraft fees charged to account holders every 180 days.
summary
Introduced
06/07/2021
06/07/2021
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
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, credit unions, and mortgage lenders, to provide written notification to their customers every 180 days regarding any overdraft fees charged to their accounts. The notification must include the dates and amounts of the overdraft fees, the total amount charged, information on the customer's ability to negotiate the fees, and contact information for a representative who can resolve any issues related to the fees. The bill also allows for the notification to be provided electronically if the account holder selects that option.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
SUBSTITUTED BY A9659 (on 05/31/2022)
Official Document
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