Bill Text: NY A04357 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 4357 (Prior Session Legislation)

Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to banks [A04357 Detail]

Download: New_York-2019-A04357-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          4357
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 4, 2019
                                       ___________
        Introduced by M. of A. WEPRIN -- read once and referred to the Committee
          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-x to
     2  read as follows:
     3    § 9-x. Fees for periodic paper statements prohibited.  Notwithstanding
     4  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.
                                                                   LBD08554-01-9