HB1471 (2020) Compare Changes

The Bill Text indicates a new section is being inserted. This situation is not handled right now, and the new text is displayed in both the changed and unchanged versions.

Unchanged Version

Text to be removed highlighted in red.

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.

Changed Version

Text to be added highlighted in green.

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.