AN ACT REQUIRING FINANCIAL INSTITUTIONS TO MAKE AVAILABLE TO THE PUBLIC INFORMATION RELATIVE TO THEIR ACCOUNTS AND SERVICES.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Chapter 167D of the General Laws is hereby amended by adding the following section:-
Section 34. Every bank, federally-chartered bank or person which
advertises to the public any deposit or credit account or the sale of any
security as defined in section two of chapter one hundred and ten A shall
maintain a telephone service for its customers to call and
obtain information relative to such account or sale of such security.
Such information shall include, but not be limited to, the current
rates of interest or yields, service fees charged, minimum balances or
investments required, and other types of accounts or investment funds or
trusts available. Such telephone service shall not be used to access personal
account information or to apply for or to obtain a new account or extension
of credit or to purchase any security. Any such bank or person shall make
such telephone service available during any hour that any of its offices are
open for business.