Prohibits financial institutions from charging a fee for periodic paper statements required for public assistance applications.

This bill amends the banking law to prohibit certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance. The affected institutions include banking organizations, mortgage brokers, mortgage bankers, interstate branches, and other investment entities regulated by the department. The prohibition applies when the paper statements are necessary for public assistance applications as defined in the social services law.

Prohibits financial institutions from charging a fee for periodic paper statements required for public assistance applications.

This bill amends the banking law to prohibit certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance. The affected institutions include banking organizations, mortgage brokers, mortgage bankers, interstate branches, and other investment entities regulated by the department. The prohibition applies when the paper statements are necessary for public assistance applications as defined in the social services law.