Prohibits fees for services related to electronic benefit transfer cards issued by New York state or certain agencies.

This bill amends the banking law to prohibit banking organizations from imposing fees for services related to electronic benefit transfer cards issued by the state or certain agencies. These cards include medical assistance, food stamp, public assistance, unemployment insurance, and child support program cards. The prohibition does not apply to national banks, federal savings banks, federal savings and loan associations, federal credit unions, or entities chartered or licensed by the United States. The act takes effect immediately and applies to contracts entered into after its effective date.

Prohibits fees for services related to electronic benefit transfer cards issued by New York state or certain agencies.

This bill amends the banking law to prohibit banking organizations from imposing fees for services related to electronic benefit transfer cards issued by the state or certain agencies. These cards include medical assistance, food stamp, public assistance, unemployment insurance, and child support program cards. The prohibition does not apply to national banks, federal savings banks, federal savings and loan associations, federal credit unions, or entities chartered or licensed by the United States. The act takes effect immediately and applies to contracts entered into after its effective date.