summary
Introduced
01/29/2026
01/29/2026
In Committee
02/10/2026
02/10/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Consumer Deposit Account Act. Prohibits a financial institution from imposing a maintenance fee or service charge in connection with a dormant or inactive consumer-deposit account.
AI Summary
This bill amends the Consumer Deposit Account Act to prohibit financial institutions from charging maintenance fees or service charges on consumer-deposit accounts that are considered dormant or inactive. An account is defined as dormant or inactive if a full year has passed since the last recorded transaction and the account holder has not communicated with the financial institution about the account for at least 12 months prior to that determination. This change aims to protect consumers by preventing banks from penalizing them with fees on accounts they are no longer actively using.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Assigned to Financial Institutions (on 02/10/2026)
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