Banks Committee

JOINT FAVORABLE REPORT

Bill No.:

HB-5003

Title:

AN ACT ELIMINATING FEES OR CHARGES CONCERNING DORMANT BANK ACCOUNTS.

Vote Date:

3/6/2007

Vote Action:

Joint Favorable Substitute

LCO: 5226

PH Date:

2/6/2007

File No.:

SPONSORS OF BILL:

Banks Committee

Rep. Serra, 33rd Dist.

REASONS FOR BILL:

A bank must specifically state by notification that an account has become dormant or inactive, must be in capital letters and not less than twelve-point font before imposing fees or charges to dormant bank accounts.

RESPONSE FROM ADMINISTRATION/AGENCY:

None Offered

NATURE AND SOURCES OF SUPPORT:

None Offered

NATURE AND SOURCES OF OPPOSITION:

None Offered

Reported by: Michael Muszynski, Committee Clerk

Date: 3/8/07