Provides for distribution to the public, over the internet, of information regarding credit card rates, charges, terms and other conditions; further provides for dissemination of information over the internet regarding types of bank accounts available, requirements for opening an account, and all fees charged the customer, including monthly fees and transaction fees.

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A4829A-2011 Actions

• Sep 4, 2012: enacting clause stricken
• Jun 18, 2012: print number 4829b
• Jun 18, 2012: amend (t) and recommit to ways and means
• May 16, 2012: reported referred to ways and means
• May 2, 2012: print number 4829a
• May 2, 2012: amend and recommit to consumer affairs and protection
• Jan 4, 2012: referred to consumer affairs and protection
• Feb 8, 2011: referred to consumer affairs and protection

A4829A-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                   4829--A

                         2011-2012 Regular Sessions

                            I N  ASSEMBLY

                              February 8, 2011
                                 ___________

  Introduced  by M. of A. P. RIVERA, STEVENSON, COLTON, N. RIVERA, REILLY,
    WEPRIN, ROBINSON, CASTRO -- Multi-Sponsored by --  M.  of  A.  BARRON,
    BOYLAND,  CASTELLI,  GABRYSZAK,  GIBSON, HEASTIE, McENENY, SALADINO --
    read once and referred  to  the  Committee  on  Consumer  Affairs  and
    Protection  --  recommitted  to  the Committee on Consumer Affairs and
    Protection in accordance with Assembly Rule 3,  sec.  2  --  committee
    discharged, bill amended, ordered reprinted as amended and recommitted
    to said committee

  AN  ACT  to  amend  the  general  business  law  and the banking law, in
    relation to providing information to the public on the internet

    THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section  1.  Section  520-c  of the general business law is amended by
  adding a new subdivision 1-a to read as follows:

    1-A. THE DEPARTMENT OF FINANCIAL SERVICES SHALL ESTABLISH AND MAINTAIN
  A WEBSITE ON THE INTERNET FOR PERSONS TO  OBTAIN  THE  SAME  INFORMATION
  MADE  AVAILABLE  BY  TOLL-FREE  TELEPHONE PURSUANT TO SUBDIVISION ONE OF
  THIS SECTION. INFORMATION ON HOW TO ACCESS SUCH WEBSITE SHALL BE PRINTED
  AND DISTRIBUTED IN THE SAME MANNER AS THE TELEPHONE  NUMBER  INFORMATION
  DESCRIBED  IN  SUBDIVISION ONE OF THIS SECTION AND ON CREDIT CARD PROMO-
  TIONAL MATERIAL DISTRIBUTED BY ISSUERS OF SUCH CARDS.
    S 2. The banking law is amended by adding a new section 14-g  to  read
  as follows:

    S  14-G. POWERS OF THE SUPERINTENDENT WITH REGARD TO PROVIDING CURRENT
  BANKING INFORMATION. 1. THE  SUPERINTENDENT  IS  HEREBY  AUTHORIZED  AND
  DIRECTED TO ESTABLISH AND MAINTAIN A WEBSITE ON THE INTERNET IN ORDER TO
  PROVIDE  UP-TO-DATE INFORMATION TO CURRENT AND POTENTIAL BANKING CUSTOM-
  ERS. SUCH INFORMATION SHALL INCLUDE, BUT NOT BE LIMITED TO, THE  FOLLOW-
  ING:

    A. A TOLL-FREE TELEPHONE NUMBER WHERE A CUSTOMER MAY CALL TO GET ADDI-
  TIONAL INFORMATION.

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD00362-05-2

 A. 4829--A                          2

    B. THE TYPES OF ACCOUNTS AVAILABLE AT EACH BANK IN THIS STATE.
    C. REQUIREMENTS FOR OPENING AN ACCOUNT AT EACH BANK, INCLUDING MINIMUM
  AND MAXIMUM BALANCES, IF ANY.
    D.  ALL  FEES  CHARGED THE CUSTOMER, INCLUDING MONTHLY FEES AND TRANS-
  ACTION FEES.
    2. THE SUPERINTENDENT SHALL PROMULGATE RULES AND REGULATIONS NECESSARY
  TO PROVIDE THAT ALL BANKING INSTITUTIONS WITHIN THE STATE SHALL  FURNISH
  THE INFORMATION REQUIRED PURSUANT TO SUBDIVISION ONE OF THIS SECTION, TO
  THE  SUPERINTENDENT  IN  A MANNER THAT WILL ENABLE THE SUPERINTENDENT TO
  UPDATE THE DEPARTMENT'S WEBSITE INFORMATION.
    S 3. This act shall take effect one year after it shall have become  a
  law.