Relates to prohibiting financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.
STATE OF NEW YORK
________________________________________________________________________
2877
2023-2024 Regular Sessions
IN SENATE
January 25, 2023
___________
Introduced by Sen. COMRIE -- read twice and ordered printed, and when
printed to be committed 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-aa to
2 read as follows:
3 § 9-aa. Fees for periodic paper statements prohibited. Notwithstand-
4 ing 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.
LBD04605-01-3
