Bill Text: NY A01940 | 2019-2020 | General Assembly | Introduced

Bill Title: Increases the number of authorized withdrawal transactions at no charge from basic banking accounts for account holders sixty-five years of age or older from eight to twelve.

Spectrum: Partisan Bill (Democrat 14-0)

Status: (Passed) 2019-09-13 - signed chap.260 [A01940 Detail]

Download: New_York-2019-A01940-Introduced.html

                STATE OF NEW YORK
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 18, 2019
        Introduced  by M. of A. ZEBROWSKI, GLICK, ORTIZ, ABINANTI, WRIGHT, RICH-
          ARDSON, WEPRIN, SEAWRIGHT, BICHOTTE -- Multi-Sponsored by -- M. of  A.
          CYMBROWITZ,  DINOWITZ,  GOTTFRIED,  PERRY -- read once and referred to
          the Committee on Banks
        AN ACT to amend the banking law, in relation to the number of withdrawal
          transactions from a basic banking account
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (c) of subdivision 2 of section 14-f of the bank-
     2  ing  law, as added by chapter 1 of the laws of 1994 and such subdivision
     3  as further amended by section 104 of part A of chapter 62 of the laws of
     4  2011, is amended to read as follows:
     5    (c) eight withdrawal transactions for account holders under sixty-five
     6  years of age, and twelve withdrawal  transactions  for  account  holders
     7  sixty-five years of age or older, including those conducted at electron-
     8  ic  facilities, during any periodic cycle at no additional charge to the
     9  account holder; and
    10    § 2. This act shall take effect on the sixtieth  day  after  it  shall
    11  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.