What's happening
This bill requires banks in New York to post the Department of Financial Services' toll-free consumer complaint hotline in public areas.
Why it matters
Increases consumer awareness. By requiring banks to prominently display the Department of Financial Services' (DFS) toll-free complaint hotline, the bill makes it easier for customers to know where to turn if they have issues with their bank, which can empower them to seek help or redress.
Enhances transparency and accountability. The visible presence of the complaint hotline may encourage banks to improve service, knowing that dissatisfied customers have a clear, accessible way to report their concerns directly to regulators.
Levels the playing field for consumers. Not all bank customers may be aware they can file complaints with state authorities; this requirement helps ensure that all customers, regardless of background or familiarity with the system, have equal access to consumer protection resources.
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Who cares
Headline styles
Post Hotline in Banks
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
History
- Committed to rules
- Advanced to third reading
- 2nd report cal.
- 1st report cal.179
- Referred to banks
- Committed to rules
- Advanced to third reading
- 2nd report cal.
- 1st report cal.1348
- 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.
Post Consumer Hotline Number
In Senate Committee · Banks · Sponsor Felix Ortiz
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2938
2017-2018 Regular Sessions
IN SENATE
January 18, 2017
Introduced by Sen. HAMILTON -- 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 requiring posting notice of the department of financial services toll free consumer's hotline telephone number
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The opening paragraph of subdivision 8 of section 14-f of the banking law is designated paragraph (a) and a new paragraph (b) is added to read as follows:
(b) Where a banking institution posts in the public area of its offices the notices for information required in paragraph (a) of this subdivision, it shall also post equally conspicuous notice in such public areas and in the same manner, of the department's toll free consumer's hotline telephone number, where consumers can file complaints if a consumer is not satisfied with the services a banking institution provides.
§ 2. This act shall take effect on the one hundred twentieth day after it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08345-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the banking law, in relation to requiring posting notice of the department of financial services toll free consumer's hotline telephone number
Purpose or general idea of bill
This bill would ensure that financial consumers are aware of where to file a complaint against a banking institution.
Summary of specific provisions
This bill would add a new paragraph (b) to subdivision 8 of section 14-f of the banking law, requiring banking institutions to post notice of the department's toll free consumer's hotline telephone number.
Justification
When problems arise while using an automated teller machine, when dissatisfied with the service provided, or when there is a language barrier that hinders communication, a consumer may not know where to turn. This bill would ensure that consumers are aware that the Department of Financial Services has a toll-free hotline number that handles these types of complaints.
Prior legislative history
2009/10: A5134 Held in Banks 2011/12: A1394A Referred to Codes 2013/14: A4882 Referred to Banks New to the Senate
Fiscal implications
None
Effective date
120 days after enactment
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.