Bill > S04228

This bill prohibits financial institutions in New York, including banks, mortgage brokers, and other regulated investment entities, from charging customers a fee for periodic paper statements when those statements are necessary for applying for public assistance as defined in the social services law. Essentially, the legislation ensures that individuals seeking public benefits will not have to pay extra to obtain the paper statements they need to complete their assistance applications. The bill includes a standard severability clause, which means that if any part of the law is found to be invalid, the rest of the law can still be enforced. The legislation will go into effect 180 days after it becomes law, giving financial institutions time to adjust their practices. By removing financial barriers to obtaining necessary documentation, the bill aims to make the public assistance application process more accessible for individuals who may already be experiencing economic hardship.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S4228