What's happening
This bill requires banks in New York to post the Department of Financial Services' toll-free consumer complaint hotline wherever other required notices are displayed.
Why it matters
Empowers consumers by making it easier to find help. By requiring banks to prominently display the Department of Financial Services’ consumer complaint hotline, the bill ensures customers know exactly where to turn if they have issues with their bank, potentially leading to faster resolution of problems.
Increases accountability for banks. With the hotline number visible wherever other important notices are posted, banks may feel greater pressure to address customer complaints proactively, knowing that consumers have direct access to oversight authorities.
Promotes fairness and transparency in banking services. The measure levels the playing field for consumers who might otherwise be unaware of their rights or the channels available to seek help, which is especially important for vulnerable or less informed individuals.
Could improve overall customer service standards. When customers are more aware of complaint mechanisms, banks may invest more in customer service and fair practices to minimize the risk of regulatory scrutiny and negative feedback.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Banking institutions
Those posting the information notices required by the existing provision in public office areas would also have to post the Department of Financial Services consumer hotline number equally conspicuously and in the same manner.
Bank customers dissatisfied with service
The required notices would identify a toll-free hotline where they can file complaints about a banking institution’s services.
Department of Financial Services
Banking institutions would have to display the department’s toll-free consumer hotline number as a complaint channel.
Headline styles
Post Consumer Hotline Number
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Signed chap.423
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.71
- Substituted for A3168
- Referred to codes
- Delivered to assembly
- Passed senateVote 62–0
- Ordered to third reading cal.1320
- Committee discharged and committed to rules
- 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.
Require Bank Complaint Hotline Notices
Assembly Floor Calendar · Sponsor Felix Ortiz
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4931
2019-2020 Regular Sessions
IN SENATE
March 29, 2019
Introduced by Sen. SANDERS -- 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.
LBD07264-01-9
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 Depart- ment 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 2015/16: A8347 Referred to Codes 2017/18: A3389 Passed Assembly
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.