Bill Text: CT SB00011 | 2013 | General Assembly | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: An Act Requiring Notice Of The Reordering Of Banking Transactions.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2013-04-25 - House Calendar Number 434 [SB00011 Detail]

Download: Connecticut-2013-SB00011-Comm_Sub.html

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General Assembly		Committee Bill No. 11
January Session, 2013		LCO No. 4382
		*04382SB00011BA_*
Referred to Committee on BANKS
Introduced by:
(BA)

AN ACT REQUIRING NOTICE OF THE REORDERING OF TRANSACTIONS.

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

Section 1. (NEW) (Effective October 1, 2013) A bank, as defined in section 36a-1 of the general statutes, shall provide written notice to its account-holding customers regarding (1) the order in which the bank processes and posts each transaction that occurs during a single day on a customer's account, and (2) whether the bank may change the order in which it processes or posts account transactions occurring during a single day and the reasons for any such reordering.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2013	New section

Statement of Purpose:

To create more fairness in banking.

[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.]

Co-Sponsors:

SEN. LOONEY, 11th Dist.

S.B. 11