Bill > H1327

This bill modifies Chapter 167D of the Massachusetts General Laws by adding a new provision that allows banks to charge a fee for inactive accounts. Currently, the law appears to restrict certain bank fees, and this amendment would explicitly permit financial institutions to impose a charge on bank accounts that have been dormant or unused for a specified period. The bill is relatively concise, adding just a few words to an existing section of law, and seems designed to provide clarity for banks regarding their ability to charge fees on accounts that are not actively being used by customers. By explicitly including "a fee for inactive accounts" as an allowable charge, the legislation removes any potential legal ambiguity about such fees and gives banks more flexibility in managing dormant accounts.

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https://malegislature.gov/Bills/194/H1327