Assembly Bill A7393A

2019-2020 Legislative Session

Relates to enacting the "community financial services access and modernization act of 2019"

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • 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

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Bill Amendments

co-Sponsors

2019-A7393 - Details

See Senate Version of this Bill:
S5423
Current Committee:
Assembly Codes
Law Section:
Banking Law
Laws Affected:
Amd Bank L, generally
Versions Introduced in Other Legislative Sessions:
2017-2018: A7705
2021-2022: A5192, S2796
2023-2024: S3237

2019-A7393 - Summary

Relates to enacting the "community financial services access and modernization act of 2019"; 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.

2019-A7393 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7393
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 29, 2019
                                ___________
 
 Introduced  by  M.  of  A.  DE LA ROSA  -- read once and referred 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 2019"; 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 2019".
   §  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.
   3.  The  term  ["mobile  unit"] "LIMITED STATION" means any vehicle or
 other movable means from which the business of [cashing  checks,  drafts
 or  money orders] PROVIDING FINANCIAL SERVICES REGULATED BY THIS ARTICLE
 is to be conducted.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

multi-Sponsors

2019-A7393A (ACTIVE) - Details

See Senate Version of this Bill:
S5423
Current Committee:
Assembly Codes
Law Section:
Banking Law
Laws Affected:
Amd Bank L, generally
Versions Introduced in Other Legislative Sessions:
2017-2018: A7705
2021-2022: A5192, S2796
2023-2024: S3237

2019-A7393A (ACTIVE) - Summary

Relates to enacting the "community financial services access and modernization act of 2019"; 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.

2019-A7393A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7393--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 29, 2019
                                ___________
 
 Introduced  by  M. of A. DE LA ROSA, PERRY, WEPRIN, HEVESI, FERNANDEZ --
   read once  and  referred  to  the  Committee  on  Banks  --  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 2019"; 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 2019".
   § 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.
   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.
              

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