Bill
Bill > H504
MA H504
To require financial institutions to pay late fees when it fails to conduct an electronic transfer
summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
For legislation to require financial institutions to pay late fees upon failure to conduct electronic transfers. Financial Services.
AI Summary
This bill requires financial institutions to pay any late fees, penalties, or charges incurred by a consumer when the institution fails to conduct an authorized electronic transfer, except for reasons specified in the existing law. If the financial institution willfully and knowingly fails to comply, the consumer is entitled to treble damages as determined under the relevant section of the law.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see H4778 (on 07/18/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H504 |
| Bill | https://malegislature.gov/Bills/190/H504.pdf |
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