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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A4829B-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

A4829B-2011 Text

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

                                   4829--B

                         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  -- reported and referred to the Committee on Ways
    and Means -- 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  or
    providing a link or links to such information

    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 ON ITS
  WEBSITE OR PROVIDE A LINK OR LINKS ON ITS WEBSITE 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 TELE-
  PHONE  NUMBER  INFORMATION  DESCRIBED IN SUBDIVISION ONE OF THIS SECTION
  AND ON CREDIT CARD PROMOTIONAL 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 AUTHORIZED AND DIRECTED TO
  PROVIDE THROUGH A  TOLL-FREE  TELEPHONE  SERVICE  AT  WHICH  INFORMATION
  INCLUDING  BUT  NOT LIMITED TO ANNUAL PERCENTAGE RATES, ANNUAL FEES, PER

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD00362-08-2

 A. 4829--B                          2

  TRANSACTION CHARGES, LATE PAYMENT FEES, OVER LIMIT FEES AND GRACE  PERI-
  ODS FOR CREDIT CARDS CAN BE OBTAINED.
    2.  THE  SUPERINTENDENT  IS  AUTHORIZED AND DIRECTED TO PROVIDE ON THE
  WEBSITE OF THE DEPARTMENT THE INFORMATION DESCRIBED IN  SUBDIVISION  ONE
  OF THIS SECTION OR TO PROVIDE A LINK OR LINKS TO SUCH INFORMATION.
    3.  THE  SUPERINTENDENT MAY PROMULGATE RULES AND REGULATIONS NECESSARY
  TO OBTAIN THE INFORMATION REQUIRED PURSUANT TO SUBDIVISION ONE  OF  THIS
  SECTION,  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.