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Bill

A 6753

Requires a written notification of overdraft fees charged to certain account holders

2025 Regular Session Introduced by Pamela Hunter and 1 co-sponsor

Requires banks to provide written notice to certain account holders when overdraft fees are charged.

REFERRED TO BANKS
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WeVote Research Nonpartisan
Bill Summary · A 6753

Summary of Assembly Bill A 6753

Overview

  • Bill Number: A 6753
  • Title: Requires a written notification of overdraft fees charged to certain account holders
  • Status: Referred to Banks
  • Introduced: March 11, 2025
  • Classification: bill
  • Sponsors:
    • Primary: Pamela J. Hunter
    • Cosponsor: Nader Sayegh
  • Related Bills (prior-session): A 9659, A 3248

Purpose and Intent

A 6753 seeks to increase transparency around overdraft charges by mandating a written notification when overdraft fees are assessed to certain bank account holders. The core aim is to ensure consumers receive explicit, documented information about overdraft fees, rather than the charges appearing without formal notice.

Key Provisions (as described)

  • The bill would require banks to provide a written notice to account holders when overdraft fees are charged.
  • The notification is targeted to “certain account holders,” though the specific criteria (e.g., which accounts or customers qualify, and under what circumstances fees trigger notice) are not detailed in the information provided.
  • The content, timing, format, and other specifics of the notice (e.g., what must be included beyond the fact that a fee was charged) would be defined in the full text of the bill.

Note: The exact scope, definitions, and operational requirements would be clarified in the bill’s text. The summary above reflects the reported substantive objective: mandatory written notification of overdraft fees to affected customers.

Who Would Be Affected

  • Primary audience: Bank customers who incur overdraft fees that fall under the bill’s “certain account holders” category.
  • Covered entities: Banks (and potentially other insured depository institutions) that assess overdraft fees would need to provide the required written notices.

Procedural and Timeline Aspects

  • Introduced: March 11, 2025
  • Legislative Action: Referred to the Banks committee on March 11, 2025 (two entries indicating the same action on the same date, likely a clerical duplication).
  • As a referred bill, it is in the early stage of the legislative process. It would need to clear the Banks committee, undergo any amendments, and be considered on the Assembly floor before moving to the Senate (and beyond) per the chamber’s calendar.

Relation to Prior Legislation

  • The bill has related prior-session measures: A 9659 and A 3248. These references suggest ongoing legislative interest in overdraft fee transparency and related consumer protections.

Potential Impact

  • Consumer impact: Increased transparency and clarity about overdraft charges for affected account holders.
  • Industry impact: Banks would incur administrative changes to their notification processes and record-keeping to comply with the notification requirement.
  • Policy implications: If enacted, the bill could influence overdraft practices and consumer disputes related to overdraft fees.

Next Steps

  • If the Banks committee advances the bill, it would proceed to further committee review, potential amendments, and floor consideration. Stakeholders may seek clarifications on eligibility, notification content, format, and timing.

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

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