MA H1327The bill proposes an amendment to Section 5 of Chapter 167D of the Massachusetts General Laws to include a provision that permits banks to charge a fee for inactive accounts.
MA H1327 is a house bill in the Massachusetts 194th General Court, sponsored by Todd Smola (R), currently “Introduced” since February 27, 2025.
We track 6,558 Massachusetts bills this session, 21 of them sponsored by Todd Smola.
Supporters might say the bill modernizes banking regulations by allowing banks to manage inactive accounts more efficiently. It encourages account holders to maintain active engagement with their financial institutions, which could lead to financial literacy and better management of personal accounts.
Critics might argue the bill unfairly penalizes individuals who cannot regularly monitor their accounts, such as the elderly or those with limited internet access. It could add an unnecessary financial burden on low-income individuals who keep small savings in these accounts.
About This Analysis
This summary was generated using AI from the bill's official text and metadata. Data sourced from LegiScan and the Massachusetts General Court. Conflict-of-interest analysis for this bill is coming soon.
What does MA H1327 do?
The bill proposes an amendment to Section 5 of Chapter 167D of the Massachusetts General Laws to include a provision that permits banks to charge a fee for inactive accounts.
What is the status of MA H1327?
MA H1327 is currently “Introduced” in the Massachusetts legislature.
Who sponsored MA H1327?
Todd Smola (R) sponsored MA H1327.
