Bill Text: NY A03088 | 2011-2012 | General Assembly | Introduced

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Bill Title: Requires banks to post information about basic banking services near their exits and entrances, including information concerning minimum balances, initial deposits, maximum fees chargeable, and withdrawal limitations.

Spectrum: Partisan Bill (Democrat 15-0)

Status: (Introduced - Dead) 2012-01-04 - referred to banks [A03088 Detail]

Download: New_York-2011-A03088-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3088
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 24, 2011
                                      ___________
       Introduced  by  M.  of  A.  PERRY  --  Multi-Sponsored  by  --  M. of A.
         BROOK-KRASNY, GLICK,  GOTTFRIED,  HIKIND,  HOOPER,  JACOBS,  V. LOPEZ,
         McENENY,  MENG, PHEFFER, J. RIVERA, N. RIVERA, ROBINSON, TOWNS -- read
         once and referred to the Committee on Banks
       AN ACT to amend the banking law, in relation to requiring banks to  post
         notices of basic banking services available
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivision 8 of section 14-f of the banking law, as  added
    2  by chapter 1 of the laws of 1994, is amended to read as follows:
    3    8.  [Where  a]  A banking institution [posts in the public area of its
    4  offices notice of the availability of  its  other  consumer  transaction
    5  accounts,  it]  shall [also] post [equally] conspicuous notice in [such]
    6  public areas [and in the same manner] NEAR CUSTOMER EXITS AND  ENTRANCES
    7  REGARDING  the  availability  of  its  basic  banking accounts INCLUDING
    8  INFORMATION CONCERNING MINIMUM BALANCES, INITIAL DEPOSITS, MAXIMUM  FEES
    9  CHARGEABLE  AND  LIMITATIONS ON WITHDRAWAL TRANSACTIONS. Where a banking
   10  institution makes available in such public areas material describing the
   11  terms of its other consumer transaction accounts,  it  shall  also  make
   12  comparable  descriptive material available in the same such areas and in
   13  the same manner for its basic banking account.
   14    S 2. This act shall take effect on the thirtieth day  after  it  shall
   15  have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02665-01-1