An Act relative to inactive bank account fees
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill addresses fees charged by banks for inactive bank accounts. It aims to limit or eliminate these fees, ensuring that customers are not penalized for accounts that are not frequently used. The bill seeks to provide greater transparency and fairness in banking practices regarding inactive accounts. It is part of a series of similar proposals regarding bank fees.
Key provisions
- Requires banks to clearly disclose their policies regarding inactive account fees.
- May establish a timeframe within which a bank must notify a customer before charging an inactive account fee.
- The bill is part of a series of similar proposals regarding bank fees.
Who is affected
- Consumers
- Banks
- Financial Institutions
Notable changes
- The bill seeks to change current practices regarding fees for inactive bank accounts.
- It may establish a timeframe for banks to notify customers about potential fees.
Bill text
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Sponsors
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2 on record
Primary sponsor
Cosponsor
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