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History
- Referred to banks
- Referred to banks
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Prohibits the charging of certain ATM fees for accessing child support payments
In Assembly Committee · Banks · Sponsor Fred Thiele
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the banking law, in relation to prohibiting the charging of certain ATM fees for accessing child support payments
Purpose
The Child Support Collections unit has determined it to be more cost effective to issue payments in the form of a direct deposit to a debit card rather than issuing and mailing paper checks.
This legislation would prohibit banks from charging fees to those persons who are accessing child support payments through the ATM.
Summary of provisions
The banking law is amended by adding a new section 9-v which requires banks to waive ATM fees for any person accessing child support payments. Requires the Superintendent of the New York State Banking Department to work with the Commissioner of Children and Family Services to promulgate rules and regulations necessary for the implementation of this section.
Justification
Many single parents rely heavily on child support payments to make ends meet for their families. The current system charges ATM fees for every balance inquiry or withdrawal made at an ATM. These fees maybe relatively small, but they add up quickly for someone raising children on a fixed income.
Waiving these ATM fees will increase the spending power of those receiving child payments.
Legislative history
2007-08, S.8109
Fiscal implications
None to State.
Effective date
This act shall take effect on the one hundreth twentieth day after it shall have become a law; provided, however, that effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effective date are authorized and directed to be made and completed on or before such effective date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.