HB1471 (2020) Detail

Prohibiting banks from re-ordering transactions to increase overdraft fees.


HB 1471 - AS INTRODUCED

 

 

2020 SESSION

20-2510

11/08

 

HOUSE BILL 1471

 

AN ACT prohibiting banks from re-ordering transactions to increase overdraft fees.

 

SPONSORS: Rep. Thompson, Ches. 14; Rep. W. Thomas, Hills. 21; Rep. Oxenham, Sull. 1

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill prohibits banks and credit unions from re-ordering transactions to increase 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

20-2510

11/08

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty

 

AN ACT prohibiting banks from re-ordering transactions to increase overdraft fees.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  New Paragraph; Banks and Credit Unions; Prohibited Acts.  Amend RSA 383-A:7-701 by inserting after paragraph (f) the following new paragraph:

(g)  It shall be unlawful for any bank or credit union, or any person engaging in the business of banking, to sequence debits to any member account in any way other than that which minimizes the amount of any overdraft fee that can be assessed to such debits.

2  Effective Date.  This act shall take effect 60 days after its passage.

Links

HB1471 at GenCourtMobile
HB1471 Discussion

Action Dates

Date Body Type
Jan. 16, 2020 House Hearing
March 3, 2020 House Exec Session

Bill Text Revisions

HB1471 Revision: 7175 Date: Dec. 3, 2019, 10:10 a.m.

Docket

Date Status
Jan. 8, 2020 Introduced 01/08/2020 and referred to Commerce and Consumer Affairs HJ 1 P. 23
Jan. 16, 2020 Public Hearing: 01/16/2020 01:15 pm LOB 302
Feb. 14, 2020 Subcommittee Work Session: 02/14/2020 01:00 pm LOB 302
March 3, 2020 Executive Session: 03/03/2020 10:30 am LOB 302