Bill
Bill > A08922
NY A08922
NY A08922Provides 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
01/19/2022
01/19/2022
In Committee
01/19/2022
01/19/2022
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 one and one-half percent of the unpaid balance of any bill or fifteen dollars.
AI Summary
This bill amends New York's General Business Law to limit the late payment charges that credit card companies can assess. Specifically, it states that any late payment charges cannot exceed either 1.5% of the unpaid balance, including any interest, or $15, whichever is less. This is intended to protect consumers from excessive late fees charged by credit card companies.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
referred to consumer affairs and protection (on 01/19/2022)
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/A8922 | 01/20/2022 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A08922&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A08922 | 01/20/2022 |
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