S02377 Summary:

BILL NOS02377
 
SAME ASSAME AS A01572
 
SPONSORPARKER
 
COSPNSR
 
MLTSPNSR
 
Add S518-b, Gen Bus L
 
Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill, including any interest thereon, or twenty dollars, whichever amount is less.
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S02377 Actions:

BILL NOS02377
 
01/22/2015REFERRED TO CONSUMER PROTECTION
01/06/2016REFERRED TO CONSUMER PROTECTION
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S02377 Committee Votes:

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S02377 Floor Votes:

There are no votes for this bill in this legislative session.
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S02377 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          2377
 
                               2015-2016 Regular Sessions
 
                    IN SENATE
 
                                    January 22, 2015
                                       ___________
 
        Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Consumer 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 five percent of the
     5  unpaid balance of any bill, including any interest  thereon,  or  twenty
     6  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.
                                                                   LBD06226-01-5
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