A03885 Summary:

BILL NOA03885
 
SAME ASNo Same As
 
SPONSORWeprin (MS)
 
COSPNSR
 
MLTSPNSRPerry
 
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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A03885 Actions:

BILL NOA03885
 
01/31/2019referred to consumer affairs and protection
01/08/2020referred to consumer affairs and protection
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A03885 Committee Votes:

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A03885 Floor Votes:

There are no votes for this bill in this legislative session.
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A03885 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3885
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 31, 2019
                                       ___________
 
        Introduced by M. of A. WEPRIN -- Multi-Sponsored by -- M. of A. PERRY --
          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.
                                                                   LBD08417-01-9
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