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

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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 - Dead) 2024-05-20 - RECOMMITTED TO BANKS [A05019 Detail]

Download: New_York-2023-A05019-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5019

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 27, 2023
                                       ___________

        Introduced  by M. of A. HYNDMAN -- read once and referred to the Commit-
          tee on Banks

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

          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.  Notwithstand-
     4  ing any other provision of law or rule or regulation to the contrary, no
     5  financial institution subject to the provisions of this chapter, includ-
     6  ing any bank, trust company, savings bank, savings and loan association,
     7  credit union, mortgage broker,  mortgage  banker,  or  other  investment
     8  entity,  whether  headquartered  within  or  outside  the  state,  which
     9  provides an account to a customer shall charge a fee for periodic  paper
    10  statements  when  such  statements  are  required for an application for
    11  public assistance as defined in subdivision nineteen of section  two  of
    12  the social services law.
    13    §  2.  This  act shall take effect on the ninetieth day after it shall
    14  have become a law.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04605-01-3