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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to consumer protection
- Referred to consumer protection
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3397
Title of bill
An act to amend the general business law, in relation to prohibiting late charges on credit cards in certain cases
Purpose
To prohibit the imposition of late charges when a person pays their bill within ten days of the due date.
Summary of provisions
Adds a new section 520-d to the General Business Law to state that a person shall not be charged a late fee when they pay their credit card bill within 10 days of the due date on the statement.
Justification
This bill will provide for a grace period to protect consumers from credit card companies who impose punitive late fees without having provided sufficient time for their customers to pay.
Legislative history
2009-2010: S.1917 - Died in Consumer Protection 2008-2007: S.5065 - Died in Consumer Protection 2008-2007: A.9832 - Died in Consumer Affairs 2006-2005: S.240 - Died in Consumer Protection 2003-2004: S.1317 - Died in Consumer Protection 2003-2004: A.7457 - Died in Consumer Affairs
Fiscal implications
None to the State.
Effective date
This act shall take effect thirty days after it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.