Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 06, 2020 |
enacting clause stricken |
Jan 08, 2020 |
referred to banks |
Mar 15, 2019 |
referred to banks |
Assembly Bill A6693
2019-2020 Legislative Session
Sponsored By
CRESPO
Archive: Last Bill Status - Stricken
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Robert J. Rodriguez
Felix Ortiz
Ellen C. Jaffee
Peter Abbate
multi-Sponsors
Kevin Cahill
Joseph Lentol
2019-A6693 (ACTIVE) - Details
- Law Section:
- Banking Law
- Laws Affected:
- Amd §366, Bank L
- Versions Introduced in 2017-2018 Legislative Session:
-
A7907
2019-A6693 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6693 2019-2020 Regular Sessions I N A S S E M B L Y March 15, 2019 ___________ Introduced by M. of A. CRESPO, RODRIGUEZ, ORTIZ, JAFFEE, ABBATE, RIVERA, D'URSO -- Multi-Sponsored by -- M. of A. CAHILL, LENTOL -- read once and referred to the Committee on Banks AN ACT to amend the banking law, in relation to conduit services THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 366 of the banking law, as amended by chapter 49 of the laws of 1961 and as renumbered by chapter 132 of the laws of 1969, is amended and a new subdivision 4 is added to read as follows: 2. The term "licensee" means a licensed casher of checks, drafts and/or money orders, AND CONDUIT SERVICES. 4. THE TERM "CONDUIT SERVICES" MEANS ACCOUNT ACCESS SERVICES, BILL PAYMENT SERVICES AND ASSISTANCE IN PREPARATION AND SUBMISSION OF FORMS TO BE PROCESSED BY THE COLLABORATING FINANCIAL INSTITUTION PERMITTED TO BE OFFERED BY A LICENSEE UNDER THIS ARTICLE TO ITS CUSTOMERS IN COLLAB- ORATION WITH A STATE OR FEDERALLY CHARTERED BANK, TRUST COMPANY, SAVINGS BANK, SAVINGS AND LOAN ASSOCIATION OR CREDIT UNION PROVIDED THERE IS A WRITTEN AGREEMENT BETWEEN THE PARTIES APPROVED BY THE SUPERINTENDENT SETTING FORTH THE EXACT NATURE OF THE SERVICES TO BE RENDERED AND THE COMPENSATION FOR SAME INCLUDING THE PERSON OR ENTITY RESPONSIBLE FOR SUCH COMPENSATION SUBJECT TO THE OVERSIGHT AND APPROVAL OF THE SUPER- INTENDENT. THE TERM "CONDUIT SERVICES" DOES NOT INCLUDE ANY SERVICES WHICH EXCEED PREVAILING USURY PROVISIONS UNDER ANY NEW YORK STATE LAW. § 2. This act shall take effect on the thirtieth day after it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10585-01-9
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