A09140 Summary:

BILL NOA09140
 
SAME ASSAME AS S04188
 
SPONSORAbinanti
 
COSPNSRWeprin, Jean-Pierre, Colton, Galef, Rodriguez
 
MLTSPNSR
 
Add §9-x, Bank L
 
Requires financial institutions to notify a customer thirty days prior to charging a fee based on account inactivity; requires such notice to include a telephone number and the full contact information of a representative of the financial institution responsible for resolving any matter relating to the fee.
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A09140 Actions:

BILL NOA09140
 
01/23/2020referred to banks
02/04/2020reported referred to codes
02/25/2020reported
02/27/2020advanced to third reading cal.442
03/04/2020substituted by s4188
 S04188 AMEND= KENNEDY
 03/04/2019REFERRED TO BANKS
 05/29/20191ST REPORT CAL.899
 05/30/20192ND REPORT CAL.
 06/03/2019ADVANCED TO THIRD READING
 06/13/2019PASSED SENATE
 06/13/2019DELIVERED TO ASSEMBLY
 06/13/2019referred to banks
 01/08/2020died in assembly
 01/08/2020returned to senate
 01/08/2020REFERRED TO BANKS
 01/15/20201ST REPORT CAL.178
 01/21/20202ND REPORT CAL.
 01/22/2020ADVANCED TO THIRD READING
 02/10/2020PASSED SENATE
 02/10/2020DELIVERED TO ASSEMBLY
 02/10/2020referred to codes
 03/04/2020substituted for a9140
 03/04/2020ordered to third reading cal.442
 07/21/2020passed assembly
 07/21/2020returned to senate
 10/30/2020DELIVERED TO GOVERNOR
 11/11/2020SIGNED CHAP.268
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A09140 Committee Votes:

BANKS Chair:Abinanti DATE:02/04/2020AYE/NAY:19/7 Action: Favorable refer to committee Codes
AbinantiAyeLalorNay
PerryAyeFinchExcused
AbbateAyeMikulinNay
MillerExcusedSmithNay
WeprinAyeManktelowNay
RodriguezAyeSalkaNay
BichotteAyeSchmittNay
BlakeExcusedSmullenNay
Jean-PierreAye
SeawrightAye
RichardsonAye
DickensAye
De La RosaAye
VanelAye
WrightAye
NiouAye
TaylorAye
BarnwellExcused
SternAye
HevesiExcused
SayeghAye
BurkeAye
ButtenschonAye

CODES Chair:Lentol DATE:02/25/2020AYE/NAY:15/6 Action: Favorable
LentolAyeMorinelloNay
SchimmingerExcusedGiglioNay
PretlowAyeMontesanoNay
CookAyePalumboNay
CymbrowitzAyeGarbarinoNay
O'DonnellAyeReillyNay
LavineAye
PerryAye
AbinantiAye
WeprinAye
MosleyAye
HevesiAye
FahyAye
SeawrightAye
RosenthalAye
WalkerAye

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A09140 Floor Votes:

There are no votes for this bill in this legislative session.
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A09140 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A9140
 
SPONSOR: Abinanti
  TITLE OF BILL: An act to amend the banking law, in relation to requiring financial institutions to notify a customer prior to charging a fee based on account inactivity   PURPOSE OR GENERAL IDEA OF BILL: This bill amends the banking law to require financial institutions to provide written notice to customers, that includes a telephone number and full Contact information for a representative of the financial institution, when notifying customers about charging fees based on account inactivity.   SUMMARY OF PROVISIONS: Section 1 of the bill amends the banking law by adding a new section 9-x to require financial institutions, whether headquartered within or outside of the State of New York, to provide written notice to customers of any pending charges based on account inactivity thirty days prior to charging any such fee. The notice must include a telephone number and full contact information for a representative of the financial institu- tion responsible for resolving any matter related to the fee. A notifi- cation by electronic mail shall satisfy the written notice requirement of this section. Section 2 is the effective date.   JUSTIFICATION: When financial institutions provide a customer notice of an inactivity fee to be charged to the customer's account due to account inactivity, it is necessary to provide the customer with complete contact informa- tion to allow a customer to resolve or dispute this fee. This bill would ensure that customers have adequate contact information in order to resolve any matter related to this inactivity fee.   PRIOR LEGISLATIVE HISTORY: 2019-20: A1935 enacting clause stricken, same as 54188 (.Kennedy) passed senate; 2017-18: A7740 (Zebrowski)advanced to third reading, same as S7153 (Kennedy); 2015-16: A3062-A (Robinson) advanced to third reading; 2014: A8692-A (Robinson) advanced to third reading; 2013-14: A2549 (Gabryszak) enacting clause stricken; 2011-12 A2795 (Gabryszak) advanced to third reading; 2010: A9352 (Gabryszak) referred to banks; 2009: A3134 (Bradley) advanced to third reading; 2007-08: A1433-A (Bradley) passed assembly; 2005-06: A349 (Bradley) passed assembly; 2003-04: A8809 (Bradley) passed assembly   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None   EFFECTIVE DATE: This act shall take effect on the ninetieth day after it shall have become law.
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A09140 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9140
 
                   IN ASSEMBLY
 
                                    January 23, 2020
                                       ___________
 
        Introduced by M. of A. ABINANTI -- read once and referred to the Commit-
          tee on Banks
 
        AN  ACT  to  amend  the  banking law, in relation to requiring financial
          institutions to notify a customer prior to charging  a  fee  based  on
          account inactivity
 
          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  based  on inactivity; notification. Notwithstanding any
     4  other provision of law or rule or regulation to the contrary, any finan-
     5  cial institution subject to the provisions of  this  chapter,  including
     6  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 provide written  notice  of  the
    10  pending  charges  to  a  customer  thirty days prior to charging any fee
    11  based on account inactivity.  Such  notice  shall  include  a  telephone
    12  number  and  full contact information for a representative of the finan-
    13  cial institution responsible for resolving any matter  relating  to  the
    14  fee.    A  notification  by  electronic  mail  shall satisfy the writing
    15  requirement for the purposes of this section.
    16    § 2. This act shall take effect on the ninetieth day  after  it  shall
    17  have become a law.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01539-01-9
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A09140 LFIN:

 NO LFIN
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A09140 Chamber Video/Transcript:

3-4-20Video (@ 00:11:53)Transcript pdf Transcript html
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