Requires banks to post information about basic banking services near their exits and entrances, including information concerning minimum balances, initial deposits, maximum fees chargeable, and withdrawal limitations.
STATE OF NEW YORK
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6241
IN SENATE(Prefiled)
January 6, 2016
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Introduced by Sen. HAMILTON -- 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 requiring banks to post
notices of basic banking services available
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 8 of section 14-f of the banking law, as added
2 by chapter 1 of the laws of 1994, is amended to read as follows:
3 8. [Where a] A banking institution [posts in the public area of its
4 offices notice of the availability of its other consumer transaction
5 accounts, it] shall [also] post [equally] conspicuous notice in [such]
6 public areas [and in the same manner] near customer exits and entrances
7 regarding the availability of its basic banking accounts including
8 information concerning minimum balances, initial deposits, maximum fees
9 chargeable and limitations on withdrawal transactions. Where a banking
10 institution makes available in such public areas material describing the
11 terms of its other consumer transaction accounts, it shall also make
12 comparable descriptive material available in the same such areas and in
13 the same manner for its basic banking account.
14 § 2. This act shall take effect on the thirtieth day after it shall
15 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03747-01-5
