Bill Text: MA H872 | 2009-2010 | 186th General Court | Introduced

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Bill Title: Fees and notification of overdrafts on checkuing accounts

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 9/30 at 1:00 PM in Hearing Room A2 [H872 Detail]

Download: Massachusetts-2009-H872-Introduced.html

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The Commonwealth of Massachusetts

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PRESENTED BY:

William N. Brownsberger

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
                Court assembled:

                The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:

An Act relative to check overdrafts

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PETITION OF:

 

Name:	District/Address:
William N. Brownsberger	24th Middlesex

 

The Commonwealth of Massachusetts

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In the Year Two Thousand and Nine

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An Act relative to check overdrafts.

                Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1.  Chapter 93 of the General Laws is hereby amended by inserting after section 40 A the following section:-

Section 40 B.  Banks charging overdraft fees shall be limited 1 per day in an account. If the customer provides an email address or cell phone number, they shall notify the customer by text or email within 1 hour of any overdraft.

Banks shall provide customers with the option that the bank will not honor overdrafts and shall return such checks marked insufficient funds.