HR22: encouraging Bank of America to change its business practices.

HR 22 – AS INTRODUCED

2010 SESSION

10-2445

08/10

HOUSE RESOLUTION 22

A RESOLUTION encouraging Bank of America to change its business practices.

SPONSORS: Rep. Winters, Hills 17; Rep. McEachern, Rock 16; Rep. Dowling, Rock 5; Rep. R. Holden, Hills 7

COMMITTEE: Commerce and Consumer Affairs

ANALYSIS

This resolution encourages Bank of America to change its business practices regarding identification and charging fees for the cashing of checks.

10-2445

08/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Ten

A RESOLUTION encouraging Bank of America to change its business practices.

Whereas, many citizens of New Hampshire conduct business with Bank of America and have complained to the general court about the business practices of Bank of America; and

Whereas, Bank of America currently requires customers to be fingerprinted before completing certain routine business transactions such as cashing checks drawn on Bank of America, a practice which inspired HB 299 of the 2009 legislative session; and

Whereas, Bank of America also currently charges fees for cashing payroll checks drawn on Bank of America, a practice in conflict with RSA 275:43, I(e) and which inspired HB 602 of the 2009 legislative session; and

Whereas, Bank of America also currently requires multiple forms of identification before completing certain routine business transactions such as cashing checks drawn on Bank of America, a practice which inspired HB 618 of the 2009 legislative session; and

Whereas, these corporate practices do not align with traditional New Hampshire practices and values; and

Whereas, in the public hearings on these pieces of legislation it was pointed out that Bank of America is a nationally chartered bank and not normally subject to state regulation; and

Whereas, the Supreme Court of the United State ruled on July 29, 2009, in Cuomo v. The Clearing House Association, L.L.C., that nationally chartered banks were not exempt from state consumer protection laws; now, therefore, be it

Resolved by the House of Representatives:

That the House of Representatives does not approve of Bank of America's business practices which depart from traditional New Hampshire values; and

That Bank of America is encouraged to change its business practices so that further legislative action is not needed; and

That copies of this resolution be sent to the corporate executive officer Kenneth Lewis and the board of directors of Bank of America.