HOUSE DOCKET, NO. 357        FILED ON: 1/12/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 872

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act relative to check overdrafts.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1.  Chapter 93 of the General Laws is hereby amended by inserting after section 40 A the following section:-

Section 40 B.  Banks charging overdraft fees shall be limited 1 per day in an account. If the customer provides an email address or cell phone number, they shall notify the customer by text or email within 1 hour of any overdraft.

Banks shall provide customers with the option that the bank will not honor overdrafts and shall return such checks marked insufficient funds.