Bill Text: NY A05019 | 2023-2024 | General Assembly | Amended

---

Bill Title: Prohibits certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

Spectrum: Moderate Partisan Bill (Democrat 16-2)

Status: (Engrossed) 2024-05-20 - RECOMMITTED TO BANKS [A05019 Detail]

Download: New_York-2023-A05019-Amended.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                         5019--A
                                                                Cal. No. 226

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 27, 2023
                                       ___________

        Introduced  by  M.  of A. HYNDMAN, GIBBS, GUNTHER, HUNTER, SANTABARBARA,
          WOERNER, COLTON, ZINERMAN, WILLIAMS, SIMON, TAPIA, BENDETT,  GALLAHAN,
          JACKSON,  SAYEGH, JEAN-PIERRE -- Multi-Sponsored by -- M. of A. LEVEN-
          BERG, RAMOS -- read once and referred to the  Committee  on  Banks  --
          recommitted to the Committee on Banks in accordance with Assembly Rule
          3,  sec.  2  --  advanced  to  a third reading, passed by Assembly and
          delivered to the Senate, recalled from the Senate, vote  reconsidered,
          bill  amended,  ordered reprinted, retaining its place on the order of
          third reading

        AN ACT to amend the banking law,  in  relation  to  prohibiting  certain
          financial  institutions  from charging a fee for periodic paper state-
          ments

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1. The banking law is amended by adding a new section 9-aa to
     2  read as follows:
     3    § 9-aa. Fees for periodic paper statements prohibited.    1.  Notwith-
     4  standing any other provision of law or rule or regulation to the contra-
     5  ry,  no financial institution subject to the provisions of this chapter,
     6  including any banking organization, mortgage broker or mortgage  banker,
     7  interstate  branch  established pursuant to article five-c of this chap-
     8  ter, or other investment entity subject to regulation by the department,
     9  which provides an account to a customer shall charge a fee for  periodic
    10  paper  statements  when  such statements are required for an application
    11  for public assistance as defined in subdivision nineteen of section  two
    12  of the social services law.
    13    2.  If  any provision of this section or its application to any person
    14  or circumstance is held invalid, the invalidity does  not  affect  other
    15  provisions  or  application  of  this  section which can be given effect
    16  without the invalid provision  or  application,  and  to  this  end  the
    17  provisions of this section are severable.
    18    § 2. This act shall take effect on the one hundred eightieth day after
    19  it shall have become a law.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04605-02-4