Close-out fees prohibited in certain cases

N.Y. Banking Law § 9-I, under Short Title; Definitions; Miscellaneous Provisions.

N.Y. Banking Law § 9-I

* § 9-i. Close-out fees prohibited in certain cases. No banking\ninstitution, as that term is defined in section nine-f of this chapter,\nshall charge its customers a fee for the withdrawal of all funds from\nany account resulting in the closing of such account provided that such\naccount was opened for a period of at least one hundred eighty\nconsecutive days prior to its closing.\n * NB There are 2 § 9-i's\n