New York Enacts Provisions Regarding Financial Account Inactivity Fee Customer Notice

November 17, 2020

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New York Senate Bill 4188 requires financial institutions to notify a customer thirty days prior to charging a fee based on account inactivity and requires such notice to include a telephone number and the full contact information of a representative of the financial institution responsible for resolving any matter relating to the fee; effective February 9, 2021.

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