Revision: Jan. 26, 2009, midnight
HB 616 – AS INTRODUCED
2009 SESSION
08/10
HOUSE BILL 616
AN ACT relative to banking overdraft fees.
SPONSORS: Rep. K. Hutchinson, Rock 3
COMMITTEE: Commerce and Consumer Affairs
This bill restricts banking overdraft fees.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
09-0417
08/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nine
AN ACT relative to banking overdraft fees.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraphs; Overdraft Fee Restrictions. Amend RSA 382-A:4-401 by inserting after paragraph (d) the following new paragraphs:
(e) For purchases made with an automatic teller machine card, a transaction that would overdraw the customer’s account shall be denied and an overdraft fee may be charged by the bank.
(f) A bank shall not charge an overdraft fee greater in value than the amount of the overdraft.
(g) A bank shall not allow an overdraft fee to cause further overdraft charges if there would have been enough money in the account to cover the transaction but for the application of the overdraft fee.
2 Effective Date. This act shall take effect 60 days after its passage.