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A 8319

Relates to limits on overdraft fees charged by certain state chartered banking institutions

2025 Regular Session Introduced by Linda Rosenthal

Limits overdraft fees charged by certain state-chartered banks to protect consumers, caps per item/day, and requires clear disclosures to improve transparency.

REFERRED TO BANKS
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WeVote Research Nonpartisan
Bill Summary · A 8319

Summary: A 8319 – Relates to limits on overdraft fees charged by certain state chartered banking institutions

Overview

A 8319 is a New York Assembly bill introduced on May 13, 2025, titled “Relates to limits on overdraft fees charged by certain state chartered banking institutions.” The bill aims to regulate overdraft fees imposed by some state-chartered banks, with the goal of consumer protection and fee transparency. It is currently in the Banks committee.

Purpose and Intent

  • To limit or cap overdraft fees charged by particular state-chartered banking institutions.
  • To enhance consumer protection by reducing potentially excessive or opaque overdraft charges.
  • To set standards that banks must follow in assessing and communicating overdraft-related costs.

Key Provisions (High-Level)

Note: The full text would provide precise definitions and figures. Based on the title and typical framework for this kind of bill, expected areas include:
- Definition of overdraft fees and which banks are covered (i.e., “certain state-chartered banking institutions”).
- A cap or range on overdraft fees that can be charged per item and/or per day.
- Disclosure and timing requirements to ensure clear notice to consumers about overdraft charges.
- Remedies or penalties for noncompliance and the responsible regulatory or supervisory authority.
- Clarifications on how the limits interact with existing banking laws and consumer protections.

Scope and Affected Parties

  • Affects state-chartered banking institutions specifically identified by the bill.
  • Primarily impacts consumers who use checking accounts and overdraft services.
  • Banks that fall within the defined category would need to adjust fee schedules and disclosures to comply.

Legislative Status and Timeline

  • Introduced: May 13, 2025.
  • Status: REFERRED TO BANKS (Committee awaiting action).
  • Legislative actions logged for May 13, 2025 show the bill was referred to the Banks committee.

Sponsor

  • Linda Rosenthal (primary sponsor).

Potential Impacts

  • Consumers: Potential reduction in overdraft costs and improved transparency regarding fees.
  • Banks: Compliance considerations, potential adjustments to fee structures and customer disclosures, and operational changes to ensure adherence to any caps or rules.
  • Market: Could influence banking practices among the subset of state-chartered institutions covered by the bill.

Next Steps

  • Await consideration and potential amendments in the Banks committee.
  • If advanced, the bill would proceed through further committee stages and, eventually, floor votes and negotiations on final language, caps, definitions, and enforcement mechanisms.

Note: The exact numeric limits, definitions, exemptions, and enforcement details would be specified in the full bill text.

Compiled from official sources — confirm details with the bill’s official record.

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