S4228 • 2025

Relates to prohibiting financial institutions from charging a fee for periodic paper statements

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: Leroy Comrie
Last action: 2026-06-05
Official status: In Senate Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Relates to prohibiting financial institutions from charging a fee for periodic paper statements

Relates to prohibiting financial institutions from charging a fee for periodic paper statements Prohibits certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

What This Bill Does

Relates to prohibiting financial institutions from charging a fee for periodic paper statements Prohibits certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-06-05 Senate
COMMITTED TO RULES
2026-05-14 Senate
ADVANCED TO THIRD READING
2026-05-13 Senate
2ND REPORT CAL.
2026-05-12 Senate
1ST REPORT CAL.1028
2026-01-07 Senate
REFERRED TO BANKS
2025-06-13 Senate
COMMITTED TO RULES
2025-05-07 Senate
ADVANCED TO THIRD READING
2025-05-06 Senate
2ND REPORT CAL.
2025-05-05 Senate
1ST REPORT CAL.933
2025-02-03 Senate
REFERRED TO BANKS

Official Summary Text

Relates to prohibiting financial institutions from charging a fee for periodic paper statements
Prohibits certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

Current Bill Text

Read the full stored bill text

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

                                          4228

                               2025-2026 Regular Sessions

                                    I N  S E N A T E

                                    February 3, 2025
                                       ___________

        Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks

        AN ACT to amend the banking law,  in  relation  to  prohibiting  certain
          financial  institutions  from charging a fee for periodic paper state-
          ments

          THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section  1. The banking law is amended by adding a new section 9-aa to
     2  read as follows:
     3    § 9-AA. FEES FOR PERIODIC PAPER STATEMENTS PROHIBITED.    1.  NOTWITH-
     4  STANDING ANY OTHER PROVISION OF LAW OR RULE OR REGULATION TO THE CONTRA-
     5  RY,  NO FINANCIAL INSTITUTION SUBJECT TO THE PROVISIONS OF THIS CHAPTER,
     6  INCLUDING ANY BANKING ORGANIZATION, MORTGAGE BROKER OR MORTGAGE  BANKER,
     7  INTERSTATE  BRANCH  ESTABLISHED PURSUANT TO ARTICLE FIVE-C OF THIS CHAP-
     8  TER, OR OTHER INVESTMENT ENTITY SUBJECT TO REGULATION BY THE DEPARTMENT,
     9  WHICH PROVIDES AN ACCOUNT TO A CUSTOMER SHALL CHARGE A FEE FOR  PERIODIC
    10  PAPER  STATEMENTS  WHEN  SUCH STATEMENTS ARE REQUIRED FOR AN APPLICATION
    11  FOR PUBLIC ASSISTANCE AS DEFINED IN SUBDIVISION NINETEEN OF SECTION  TWO
    12  OF THE SOCIAL SERVICES LAW.
    13    2.  IF  ANY PROVISION OF THIS SECTION OR ITS APPLICATION TO ANY PERSON
    14  OR CIRCUMSTANCE IS HELD INVALID, THE INVALIDITY DOES  NOT  AFFECT  OTHER
    15  PROVISIONS  OR  APPLICATION  OF  THIS  SECTION WHICH CAN BE GIVEN EFFECT
    16  WITHOUT THE INVALID PROVISION  OR  APPLICATION,  AND  TO  THIS  END  THE
    17  PROVISIONS OF THIS SECTION ARE SEVERABLE.
    18    § 2. This act shall take effect on the one hundred eightieth day after
    19  it shall have become a law.


         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03671-01-5