Bill Text: CT HB05051 | 2010 | General Assembly | Introduced

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Bill Title: An Act Concerning Overdraft Fees.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Introduced - Dead) 2010-02-19 - Public Hearing 02/25 [HB05051 Detail]

Download: Connecticut-2010-HB05051-Introduced.html

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General Assembly		Raised Bill No. 5051
February Session, 2010		LCO No. 529
		*00529_______BA_*
Referred to Committee on Banks
Introduced by:
(BA )

AN ACT CONCERNING OVERDRAFT FEES.

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 Section 36a-303 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2010):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 more than one overdraft fee or penalty per day to a bank customer.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2010	36a-303

Statement of Purpose:

To limit banks to charging one overdraft fee per day, rather than charging an overdraft fee for each occurrence.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]