-  This bill is not active in this session.
 

A01940 Summary:

BILL NOA01940
 
SAME ASSAME AS S02245
 
SPONSORZebrowski (MS)
 
COSPNSRGlick, Ortiz, Abinanti, Wright, Richardson, Weprin, Seawright, Bichotte, Blake
 
MLTSPNSRCymbrowitz, Dinowitz, Gottfried, Perry
 
Amd §14-f, Bank L
 
Increases the number of authorized withdrawal transactions at no charge from basic banking accounts for account holders sixty-five years of age or older from eight to twelve.
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A01940 Actions:

BILL NOA01940
 
01/18/2019referred to banks
05/07/2019reported
05/09/2019advanced to third reading cal.283
05/13/2019passed assembly
05/13/2019delivered to senate
05/13/2019REFERRED TO BANKS
05/21/2019SUBSTITUTED FOR S2245
05/21/20193RD READING CAL.414
05/21/2019PASSED SENATE
05/21/2019RETURNED TO ASSEMBLY
09/13/2019delivered to governor
09/13/2019signed chap.260
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A01940 Committee Votes:

BANKS Chair:Zebrowski DATE:05/07/2019AYE/NAY:23/3 Action: Favorable
ZebrowskiAyeLalorNay
PerryAyeFinchNay
AbbateAyeMikulinAye
MillerExcusedSmithAye
WeprinAyeManktelowNay
RodriguezAyeSalkaAye
BichotteExcusedSchmittAye
BlakeAyeSmullenAye
Jean-PierreAye
SeawrightAye
RichardsonAye
DickensAye
De La RosaAye
VanelExcused
WrightAye
NiouAye
TaylorAye
BarnwellAye
SternAye
HevesiExcused
SayeghAye
BurkeExcused
ButtenschonAye

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A01940 Floor Votes:

DATE:05/13/2019Assembly Vote  YEA/NAY: 135/6
Yes
Abbate
Yes
Crespo
ER
Gantt
Yes
LiPetri
ER
Perry
Yes
Simon
Yes
Abinanti
Yes
Crouch
Yes
Garbarino
Yes
Lupardo
Yes
Pheffer Amato
Yes
Simotas
ER
Arroyo
Yes
Cruz
Yes
Giglio
Yes
Magnarelli
Yes
Pichardo
Yes
Smith
Yes
Ashby
Yes
Cusick
Yes
Glick
No
Malliotakis
Yes
Pretlow
Yes
Smullen
Yes
Aubry
Yes
Cymbrowitz
Yes
Goodell
Yes
Manktelow
Yes
Quart
Yes
Solages
Yes
Barclay
ER
Davila
Yes
Gottfried
Yes
McDonald
Yes
Ra
Yes
Stec
Yes
Barnwell
Yes
De La Rosa
Yes
Griffin
Yes
McDonough
Yes
Raia
Yes
Steck
Yes
Barrett
Yes
DenDekker
Yes
Gunther
Yes
McMahon
Yes
Ramos
Yes
Stern
Yes
Barron
Yes
DeStefano
Yes
Hawley
Yes
Mikulin
Yes
Raynor
Yes
Stirpe
ER
Benedetto
Yes
Dickens
Yes
Hevesi
Yes
Miller B
Yes
Reilly
Yes
Tague
ER
Bichotte
Yes
Dilan
Yes
Hunter
Yes
Miller MG
Yes
Reyes
Yes
Taylor
ER
Blake
Yes
Dinowitz
Yes
Hyndman
Yes
Miller ML
Yes
Richardson
Yes
Thiele
Yes
Blankenbush
No
DiPietro
Yes
Jacobson
Yes
Montesano
Yes
Rivera
Yes
Titus
Yes
Brabenec
Yes
D'Urso
Yes
Jaffee
Yes
Morinello
Yes
Rodriguez
Yes
Vanel
Yes
Braunstein
Yes
Eichenstein
Yes
Jean-Pierre
Yes
Mosley
Yes
Romeo
Yes
Walczyk
Yes
Bronson
Yes
Englebright
Yes
Johns
Yes
Niou
Yes
Rosenthal D
Yes
Walker
No
Buchwald
Yes
Epstein
Yes
Jones
Yes
Nolan
Yes
Rosenthal L
Yes
Wallace
Yes
Burke
Yes
Fahy
Yes
Joyner
Yes
Norris
Yes
Rozic
Yes
Walsh
Yes
Buttenschon
Yes
Fall
Yes
Kim
Yes
O'Donnell
Yes
Ryan
Yes
Weinstein
Yes
Byrne
Yes
Fernandez
Yes
Kolb
Yes
Ortiz
Yes
Salka
Yes
Weprin
Yes
Byrnes
No
Finch
No
Lalor
Yes
Otis
Yes
Santabarbara
Yes
Williams
Yes
Cahill
Yes
Fitzpatrick
Yes
Lavine
Yes
Palmesano
Yes
Sayegh
Yes
Woerner
Yes
Carroll
No
Friend
Yes
Lawrence
Yes
Palumbo
Yes
Schimminger
Yes
Wright
Yes
Colton
Yes
Frontus
Yes
Lentol
Yes
Paulin
Yes
Schmitt
Yes
Zebrowski
Yes
Cook
Yes
Galef
Yes
Lifton
Yes
Peoples-Stokes
ER
Seawright
ER
Mr. Speaker

‡ Indicates voting via videoconference
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A01940 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A1940
 
SPONSOR: Zebrowski (MS)
  TITLE OF BILL: An act to amend the banking law, in relation to the number of withdrawal transactions from a basic banking account   PURPOSE OR GENERAL IDEA OF BILL: This bill increases the amount of withdrawal transactions allowed at no additional charge for basic banking account holders aged sixty five and older from eight to twelve.   SUMMARY OF SPECIFIC PROVISIONS: Section one of the bill amends paragraph c of subdivision 2 of section14-f of the banking law as it relates to allowing basic banking account holders aged sixty five and older to receive twelve free with- drawal transaction Section two of the bill relates to the effective date.   JUSTIFICATION: As part of the Banking Deregulation Act of 1994, state chartered banks were required to offer "lifeline" basic checking accounts which allowed consumers eight free withdrawal transactions (including checks, bank withdrawals, and withdrawals from a bank's own ATM) during anyone month billing cycle. The lifeline account was designed to assist the poorest residents of our state who are required to use banks to receive their Social Security and SSI payments electronically. However, senior citi- zens, who make up the largest group who use banks for receipt of federal benefits, are also the group least likely to be able to afford the addi- tional expenses required to maintain a bank account. In many instances, seniors must make more than eight withdrawal transactions per month to cover out-of-pocket medical expenses and unexpected events. Providing an increase for seniors is reasonable and would allow seniors living on fixed incomes to avoid certain banking fees.   PRIOR LEGISLATIVE HISTORY: A.7617 of 2017-18, A4534 of 2015-2016   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None.   EFFECTIVE DATE: This act shall take effect on the sixtieth day after it shall have become law.
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A01940 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1940
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 18, 2019
                                       ___________
 
        Introduced  by M. of A. ZEBROWSKI, GLICK, ORTIZ, ABINANTI, WRIGHT, RICH-
          ARDSON, WEPRIN, SEAWRIGHT, BICHOTTE -- Multi-Sponsored by -- M. of  A.
          CYMBROWITZ,  DINOWITZ,  GOTTFRIED,  PERRY -- read once and referred to
          the Committee on Banks
 
        AN ACT to amend the banking law, in relation to the number of withdrawal
          transactions from a basic banking account
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (c) of subdivision 2 of section 14-f of the bank-
     2  ing  law, as added by chapter 1 of the laws of 1994 and such subdivision
     3  as further amended by section 104 of part A of chapter 62 of the laws of
     4  2011, is amended to read as follows:
     5    (c) eight withdrawal transactions for account holders under sixty-five
     6  years of age, and twelve withdrawal  transactions  for  account  holders
     7  sixty-five years of age or older, including those conducted at electron-
     8  ic  facilities, during any periodic cycle at no additional charge to the
     9  account holder; and
    10    § 2. This act shall take effect on the sixtieth  day  after  it  shall
    11  have become a law.
 
 
 
 

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01464-01-9
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A01940 LFIN:

 NO LFIN
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A01940 Chamber Video/Transcript:

5-13-19Video (@ 01:22:11)Transcript pdf Transcript html
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