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Senate Bill S7535A

2021-2022 Legislative Session

Provides that a banking institution must cash checks drawn on said institution, if payee presents a form of valid identification

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Archive: Last Bill Status - Passed Senate & Assembly

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Bill Amendments

2021-S7535 - Details

See Assembly Version of this Bill:
A1082
Law Section:
Banking Law
Laws Affected:
Add §9-z, Bank L
Versions Introduced in 2019-2020 Legislative Session:
A9139

2021-S7535 - Summary

Provides that a banking institution must cash checks drawn on said institution, if payee presents forms of valid identification; makes such institution guilty of a violation for refusal to cash such check after proper identification.

2021-S7535 - Sponsor Memo

2021-S7535 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7535
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             November 19, 2021
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the banking law, in relation to check cashing policies
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The banking law is amended by adding a new section 9-y to
 read as follows:
   § 9-Y. CASHING OF CERTAIN CHECKS. 1. NO BANKING  INSTITUTION  AS  SUCH
 TERM  IS DEFINED IN SECTION NINE-F OF THIS ARTICLE SHALL, REFUSE TO CASH
 CHECKS, IN THE AMOUNT OF FIVE HUNDRED DOLLARS OR LESS, DRAWN ON ACCOUNTS
 IN SUCH INSTITUTION OR A BRANCH AS LONG AS THERE  ARE  SUFFICIENT  FUNDS
 WITHIN  THE  ACCOUNT  ON WHICH THE CHECK IS DRAWN.  SUCH INSTITUTION MAY
 REQUIRE, AS A CONDITION FOR CASHING SUCH CHECK, THAT THE PAYEE PRESENT A
 VALID GOVERNMENT-ISSUED PHOTO IDENTIFICATION CARD.
   2. IF A PERSON PRESENTS A  FORM  OF  IDENTIFICATION,  AS  PROVIDED  IN
 SUBDIVISION ONE OF THIS SECTION, AND A SIGNATURE OR MARK, AND THE INSTI-
 TUTION  REFUSES  TO  CASH THE CHECK IN THE ABSENCE OF CRIMINAL ACTIVITY,
 SUCH INSTITUTION SHALL BE GUILTY OF A VIOLATION OF THIS SECTION.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01705-01-1

2021-S7535A (ACTIVE) - Details

See Assembly Version of this Bill:
A1082
Law Section:
Banking Law
Laws Affected:
Add §9-z, Bank L
Versions Introduced in 2019-2020 Legislative Session:
A9139

2021-S7535A (ACTIVE) - Summary

Provides that a banking institution must cash checks drawn on said institution, if payee presents forms of valid identification; makes such institution guilty of a violation for refusal to cash such check after proper identification.

2021-S7535A (ACTIVE) - Sponsor Memo

2021-S7535A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7535--A
     Cal. No. 927
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             November 19, 2021
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules  --  recommitted  to
   the  Committee  on  Banks  in accordance with Senate Rule 6, sec. 8 --
   reported favorably from said committee, ordered to  first  and  second
   report,  ordered  to  a  third reading, amended and ordered reprinted,
   retaining its place in the order of third reading
 
 AN ACT to amend the banking law, in relation to check cashing policies
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The banking law is amended by adding a new section 9-z to
 read as follows:
   § 9-Z. CASHING OF CERTAIN CHECKS. 1. NO BANK, TRUST  COMPANY,  SAVINGS
 BANK, SAVINGS AND LOAN ASSOCIATION OR CREDIT UNION SHALL, REFUSE TO CASH
 A  CASHIER'S  CHECK, A PAYROLL CHECK, OR A CERTIFIED CHECK IN THE AMOUNT
 OF FIVE HUNDRED DOLLARS OR LESS, DRAWN ON ACCOUNTS IN  SUCH  INSTITUTION
 OR  A BRANCH AS LONG AS THERE ARE SUFFICIENT FUNDS WITHIN THE ACCOUNT ON
 WHICH THE CHECK IS DRAWN. SUCH INSTITUTION MAY REQUIRE, AS  A  CONDITION
 FOR CASHING SUCH CHECK, THAT THE PAYEE PRESENT A VALID GOVERNMENT-ISSUED
 PHOTO IDENTIFICATION AND MATCHING PROOF OF ADDRESS SUCH AS A BANK STATE-
 MENT, UTILITY BILL OR PRINTED PAY STUB.
   2.  IF  A PERSON PRESENTS SUCH FORMS OF IDENTIFICATION, AS PROVIDED IN
 SUBDIVISION ONE OF THIS SECTION, AND A SIGNATURE OR MARK, AND THE INSTI-
 TUTION REFUSES TO CASH THE CHECK IN THE ABSENCE OF SUSPECTED  FRAUDULENT
 ACTIVITY,  SUCH  INSTITUTION  SHALL  BE  GUILTY  OF  A VIOLATION OF THIS
 SECTION AND SHALL BE SUBJECT TO PENALTIES PURSUANT TO SECTION FORTY-FOUR
 OF THIS CHAPTER.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01705-03-2

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