Senate Bill S2453

2019-2020 Legislative Session

Relates to prohibiting banking organizations from imposing check cashing fees

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Banks 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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2019-S2453 (ACTIVE) - Details

See Assembly Version of this Bill:
A1391
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd §9-h, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: S7973, A10754
2021-2022: S2061, A6281

2019-S2453 (ACTIVE) - Summary

Prohibits banking organizations from imposing check cashing fees.

2019-S2453 (ACTIVE) - Sponsor Memo

2019-S2453 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2453
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2019
                                ___________
 
 Introduced  by  Sen.  JORDAN -- 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  prohibiting  certain
   check cashing fees
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 9-h of the banking law, as added by chapter  90  of
 the laws of 1985, is amended to read as follows:
   § 9-h.  Imposition of service charges prohibited. 1. No banking organ-
 ization shall impose any service charge  with  respect  to  any  deposit
 account  as  a  result of the loss of a check or money which is properly
 deposited with the banking organization by delivery to  an  employee  of
 the banking organization for credit to the deposit account and for which
 a written receipt is issued by the employee.
   2.  NO  BANKING  ORGANIZATION  SHALL  IMPOSE,  OR  SEEK TO IMPOSE, ANY
 SERVICE CHARGE, OR COLLECT ANY FEE, FOR THE CASHING OF A CHECK OR  DRAFT
 DRAWN  ON AN ACCOUNT AT SUCH BANKING ORGANIZATION, FROM A PERSON TO WHOM
 SUCH CHECK OR DRAFT IS PAYABLE, REGARDLESS OF WHETHER OR NOT SUCH PERSON
 TO WHOM SUCH CHECK OR DRAFT IS PAYABLE IS A CUSTOMER OR  ACCOUNT  HOLDER
 OF  THE  BANKING  ORGANIZATION  UPON WHICH SUCH CHECK OR DRAFT IS DRAWN.
 NOTHING IN THIS SUBDIVISION SHALL REQUIRE A BANKING ORGANIZATION TO CASH
 A CHECK OR A DRAFT WHERE THE ACCOUNT FROM WHICH SUCH CHECK OR  DRAFT  IS
 PAYABLE  DOES  NOT MAINTAIN SUFFICIENT FUNDS TO PAY SUCH CHECK OR DRAFT.
 NOTHING IN THIS SUBDIVISION SHALL FURTHER PROHIBIT ANY BANKING ORGANIZA-
 TION FROM CHARGING ANY ACCOUNT HOLDER ANY SERVICE CHARGE FOR THE CASHING
 OF A CHECK OR A DRAFT. NOTHING IN THIS SUBDIVISION SHALL ADDITIONALLY BE
 DEEMED TO PREVENT ANY BANKING ORGANIZATION FROM  REQUESTING  TO  EXAMINE
 FROM ANY PERSON SEEKING TO CASH A CHECK OR A DRAFT DRAWN ON SUCH BANKING
 ORGANIZATION,  FOR SUFFICIENT IDENTIFICATION NECESSARY TO PROPERLY IDEN-
 TIFY SUCH PERSON AS THE PERSON TO WHOM THE CHECK OR  DRAFT  IS  PAYABLE.
 FOR  PURPOSES  OF THIS SECTION, A VALID AND UP TO DATE DRIVER'S LICENSE,
 NON-DRIVER'S IDENTIFICATION CARD, OR UNITED  STATES  PASSPORT  SHALL  BE
 DEEMED TO CONSTITUTE SUFFICIENT IDENTIFICATION.
   § 2. This act shall take effect immediately.
              

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