assembly Bill A5192A

2021-2022 Legislative Session

Relates to enacting the "community financial services access and modernization act of 2021"

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Current Bill Status - In Assembly 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 (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 07, 2021 print number 5192a
Jun 07, 2021 amend and recommit to banks
Feb 11, 2021 referred to banks

Co-Sponsors

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Multi-Sponsors

A5192 - Details

See Senate Version of this Bill:
S2796
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd Bank L, generally
Versions Introduced in Other Legislative Sessions:
2017-2018: A7705
2019-2020: A2546, A7393, S5423

A5192 - Summary

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

A5192 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5192
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 11, 2021
                                ___________
 
 Introduced  by  M.  of  A. DE LA ROSA, RODRIGUEZ, PERRY, WEPRIN, HEVESI,
   FERNANDEZ, TAYLOR, RAMOS, CRUZ, PICHARDO,  J. RIVERA,  COOK,  DICKENS,
   HYNDMAN, ABBATE, STERN, SAYEGH -- Multi-Sponsored by -- M. of A. PRET-
   LOW -- 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 2021"; 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 2021".
   § 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.

Co-Sponsors

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Multi-Sponsors

A5192A (ACTIVE) - Details

See Senate Version of this Bill:
S2796
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd Bank L, generally
Versions Introduced in Other Legislative Sessions:
2017-2018: A7705
2019-2020: A2546, A7393, S5423

A5192A (ACTIVE) - Summary

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

A5192A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5192--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 11, 2021
                                ___________
 
 Introduced  by  M.  of  A. DE LA ROSA, RODRIGUEZ, PERRY, WEPRIN, HEVESI,
   FERNANDEZ, TAYLOR, RAMOS, CRUZ, PICHARDO,  J. RIVERA,  COOK,  DICKENS,
   HYNDMAN, ABBATE, STERN, SAYEGH -- Multi-Sponsored by -- M. of A. PRET-
   LOW  --  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 2021"; 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 2021".
   §  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 and a new subdivision 4 is added 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.
                                                            LBD04514-05-1