senate Bill S5920

2017-2018 Legislative Session

Relates to enacting the "community financial services access and modernization act of 2017"

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Banks Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to banks
Jun 14, 2017 print number 5920b
Jun 14, 2017 amend and recommit to rules
Jun 07, 2017 print number 5920a
Jun 07, 2017 amend and recommit to rules
reported and committed to rules
May 05, 2017 referred to banks

Votes

view votes

Jun 7, 2017 - Banks committee Vote

S5920
12
1
committee
12
Aye
1
Nay
6
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Banks committee vote details

Co-Sponsors

S5920 - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd Bank L, generally

S5920 - Summary

Relates to enacting the "community financial services access and modernization act of 2017"; modernizes existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments; provides for a comprehensive regulatory framework for the delivery of the expanded financial services currently being offered.

S5920 - Sponsor Memo

S5920 - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5920

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                               May 5, 2017
                               ___________

Introduced  by  Sen.  SAVINO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks

AN ACT to amend the banking law, in relation to enacting the  "community
  financial  services access and modernization act of 2017"; and provid-
  ing for the repeal of certain provisions upon expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title. This act shall be known as and may be cited as
the "community financial services access and modernization act of 2017".
  §  2.  Paragraph  (b)  of subdivision 5 of section 18-a of the banking
law, as amended by chapter 155 of the laws of 2012, is amended  to  read
as follows:
  (b) two thousand dollars when the application relates to the licensing
of  an  additional  location or change of location or the licensing of a
[mobile unit]  LIMITED STATION of a licensed [casher of  checks]  FINAN-
CIAL SERVICES PROVIDER; or
  §  3.  Section 366 of the banking law, as amended by chapter 49 of the
laws of 1961, subdivision 1 as amended by chapter 849  of  the  laws  of
1964  and  as  further amended by section 104 of part A of chapter 62 of
the laws of 2011, subdivisions 2 and 3 as renumbered by chapter  132  of
the laws of 1969, is amended to read as follows:
  § 366.  Definitions.  When used in this article. 1. The term "licensed
[casher of checks] FINANCIAL SERVICES PROVIDER" means  any  [individual,
partnership,  unincorporated  association  or  corporation]  PERSON duly
licensed by the superintendent of financial services to engage in  busi-
ness pursuant to the provisions of this article.
  2.  The  term  "licensee"  means  a PERSON licensed [casher of checks,
drafts and/or money orders] TO PROVIDE FINANCIAL SERVICES  REGULATED  BY
THIS ARTICLE.
  3.  The  term  ["mobile  unit"] "LIMITED STATION" means any vehicle or
other movable means from which the business of [cashing  checks,  drafts

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

Co-Sponsors

S5920A - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd Bank L, generally

S5920A - Summary

Relates to enacting the "community financial services access and modernization act of 2017"; modernizes existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments; provides for a comprehensive regulatory framework for the delivery of the expanded financial services currently being offered.

S5920A - Sponsor Memo

S5920A - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 5920--A

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                               May 5, 2017
                               ___________

Introduced  by  Sens.  SAVINO, GRIFFO -- read twice and ordered printed,
  and when printed to be committed to the Committee on Banks -- reported
  favorably from said committee and committed to the Committee on  Rules
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted to said committee

AN ACT to amend the banking law, in relation to enacting the  "community
  financial  services access and modernization act of 2017"; and provid-
  ing for the repeal of certain provisions upon expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title. This act shall be known as and may be cited as
the "community financial services access and modernization act of 2017".
  §  2.  Paragraph  (b)  of subdivision 5 of section 18-a of the banking
law, as amended by chapter 155 of the laws of 2012, is amended  to  read
as follows:
  (b) two thousand dollars when the application relates to the licensing
of  an  additional  location or change of location or the licensing of a
[mobile unit]  LIMITED STATION of a licensed casher of checks; or
  § 3. Section 366 of the banking law, as amended by chapter 49  of  the
laws  of  1961,  subdivision  1 as amended by chapter 849 of the laws of
1964 and as further amended by section 104 of part A of  chapter  62  of
the  laws of 2011, and subdivisions 2 and 3 as renumbered by chapter 132
of the laws of 1969, is amended to read as follows:
  § 366. Definitions. When used in this article. 1. The  term  "licensed
casher  of  checks"  means  any [individual, partnership, unincorporated
association or corporation] PERSON duly licensed by  the  superintendent
of  financial  services to engage in business pursuant to the provisions
of this article.
  2. The term "licensee" means  a  licensed  casher  of  checks,  drafts
and/or money orders.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11339-04-7

S5920B (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd Bank L, generally

S5920B (ACTIVE) - Summary

Relates to enacting the "community financial services access and modernization act of 2017"; modernizes existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments; provides for a comprehensive regulatory framework for the delivery of the expanded financial services currently being offered.

S5920B (ACTIVE) - Sponsor Memo

S5920B (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 5920--B

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                               May 5, 2017
                               ___________

Introduced  by  Sens.  SAVINO, GRIFFO -- read twice and ordered printed,
  and when printed to be committed to the Committee on Banks -- reported
  favorably from said committee and committed to the Committee on  Rules
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted  to  said  committee  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the banking law, in relation to enacting the  "community
  financial  services access and modernization act of 2017"; and provid-
  ing for the repeal of certain provisions upon expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title. This act shall be known as and may be cited as
the "community financial services access and modernization act of 2017".
  §  2.  Paragraph  (b)  of subdivision 5 of section 18-a of the banking
law, as amended by chapter 155 of the laws of 2012, is amended  to  read
as follows:
  (b) two thousand dollars when the application relates to the licensing
of  an  additional  location or change of location or the licensing of a
[mobile unit]  LIMITED STATION of a licensed casher of checks; or
  § 3. Section 366 of the banking law, as amended by chapter 49  of  the
laws  of  1961,  subdivision  1 as amended by chapter 849 of the laws of
1964 and as further amended by section 104 of part A of  chapter  62  of
the  laws of 2011, and subdivisions 2 and 3 as renumbered by chapter 132
of the laws of 1969, is amended to read as follows:
  § 366. Definitions. When used in this article. 1. The  term  "licensed
casher  of  checks"  means  any [individual, partnership, unincorporated
association or corporation] PERSON duly licensed by  the  superintendent
of  financial  services to engage in business pursuant to the provisions
of this article.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11339-10-7

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