Relating to customer complaints to financial institutions; prescribing an effective date.

Requires financial institution to report to Department of Consumer and Business Services customer complaint concerning improper charges to customer's credit card or debit card or improper withdrawals from customer's deposit account that alleges that improper charges or withdrawals came after inadequate disclosure or failure to disclose that initial purchase obligated customer to make additional purchases or payments unless customer acts affirmatively to cancel obligation. Provides that financial institution need not verify truth of statements in customer's complaint before, or in course of, reporting complaint. Requires financial institution to advise customer that customer can complain directly to department and to assist customer in collecting sufficient information for complaint. Punishes failure to report complaint as unlawful trade practice. Becomes operative January 1, 2018. Takes effect on 91st day following adjournment sine die.