Massachusetts H1151 amends bank account fee regulations to include a fee for inactive accounts.

Massachusetts H1151 amends Chapter 167D of the General Laws to allow banks to charge a fee for inactive accounts. This bill adds a new provision to the existing law, specifying that banks can impose a fee on accounts that have been inactive for a certain period. The bill does not specify the amount of the fee or the criteria for determining account inactivity. This change aims to address the issue of inactive bank accounts by providing banks with a mechanism to manage such accounts.

Massachusetts H1151 amends bank account fee regulations to include a fee for inactive accounts.

Massachusetts H1151 amends Chapter 167D of the General Laws to allow banks to charge a fee for inactive accounts. This bill adds a new provision to the existing law, specifying that banks can impose a fee on accounts that have been inactive for a certain period. The bill does not specify the amount of the fee or the criteria for determining account inactivity. This change aims to address the issue of inactive bank accounts by providing banks with a mechanism to manage such accounts.