Bill Text: NY A06649 | 2015-2016 | 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 7-0)

Status: (Introduced - Dead) 2016-01-06 - referred to banks [A06649 Detail]

Download: New_York-2015-A06649-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6649
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                    March 30, 2015
                                      ___________
       Introduced  by  M.  of  A.  PERRY  --  Multi-Sponsored  by  --  M. of A.
         BROOK-KRASNY, GLICK, GOTTFRIED, HIKIND, HOOPER,  RIVERA,  ROBINSON  --
         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.
                                                                  LBD03747-01-5