New York State Assembly

Bill No.:  

 
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A01496 Summary:

BILL NO	A01496
SAME AS	No Same As
SPONSOR	Weprin
COSPNSR
MLTSPNSR
Add §518-b, Gen Bus L
Provides that any charges assessed by a credit card company for late payment shall not exceed one and one-half percent of the unpaid balance of any bill or fifteen dollars.

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A01496 Actions:

BILL NO	A01496
01/17/2023	referred to consumer affairs and protection
01/03/2024	referred to consumer affairs and protection

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A01496 Committee Votes:

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A01496 Floor Votes:

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A01496 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1496
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 17, 2023
                                       ___________
 
        Introduced by M. of A. WEPRIN -- read once and referred to the Committee
          on Consumer Affairs and Protection
 
        AN  ACT  to  amend  the general business law, in relation to credit card
          late charges
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. The general business law is amended by adding a new section
     2  518-b to read as follows:
     3    §  518-b.  Credit  card late charges. Any charges assessed by a credit
     4  card company for late payment shall not exceed one and one-half  percent
     5  of  the  unpaid  balance of any bill, including any interest thereon, or
     6  fifteen dollars, whichever amount is less.
     7    § 2. This act shall take effect on the ninetieth day  after  it  shall
     8  have become a law.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01459-01-3

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