Bill Text: CT HB05047 | 2010 | General Assembly | Comm Sub

Bill Title: An Act Concerning Negative Account Balances.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2010-03-25 - File Number 139 [HB05047 Detail]

Download: Connecticut-2010-HB05047-Comm_Sub.html

General Assembly


Raised Bill No. 5047

February Session, 2010


LCO No. 536



Referred to Committee on Banks


Introduced by:


(BA )



Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 36a-303 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2010):

(a) No bank, Connecticut credit union or federal credit union may charge a fee or a penalty for an overdraft if such overdraft is due to an error on a direct deposit tape of the Social Security Administration or an accidental omission from such tape.

(b) No Connecticut bank may charge a customer a fee or penalty for an overdraft provided such customer cures a negative account balance on the business day following an insufficient funds alert issued to the customer by the bank.

This act shall take effect as follows and shall amend the following sections:

Section 1

October 1, 2010



Joint Favorable