Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 05, 2022 |
signed chap.184 |
Apr 27, 2022 |
delivered to governor |
Mar 29, 2022 |
returned to senate passed assembly ordered to third reading cal.82 substituted for a1693 |
Mar 29, 2022 |
substituted by s4894 |
Jan 05, 2022 |
ordered to third reading cal.82 |
Mar 11, 2021 |
advanced to third reading cal.166 |
Mar 09, 2021 |
reported |
Feb 10, 2021 |
reported referred to codes |
Jan 11, 2021 |
referred to banks |
Assembly Bill A1693
Signed By Governor2021-2022 Legislative Session
Sponsored By
PRETLOW
Archive: Last Bill Status Via S4894 - Signed by Governor
- 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
Votes
co-Sponsors
Monica P. Wallace
Nader Sayegh
2021-A1693 (ACTIVE) - Details
2021-A1693 (ACTIVE) - Summary
Prohibits banking organizations from issuing mail-loan checks without request or application therefor; provides that failure to destroy or return a mail-loan check does not constitute an acceptance thereof; provides that mail-loan checks shall have the transaction fee and interest rate included on the check.
2021-A1693 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1693 2021-2022 Regular Sessions I N A S S E M B L Y January 11, 2021 ___________ Introduced by M. of A. PRETLOW -- read once and referred to the Commit- tee on Banks AN ACT to amend the banking law, in relation to mail-loan checks THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 2 and 3 of section 9-t of the banking law, as added by chapter 309 of the laws of 2002, are amended and a new subdivi- sion 4 is added to read as follows: 2. Any lending institution which issues mail-loan checks shall: (a) include on the face of each check issued to a non-customer a writ- ten statement, in legible type reading "ONE FORM OF VALID PHOTOGRAPHIC ID NEEDED TO CASH OR DEPOSIT"; provided, however, that any entity cash- ing or accepting a mail-loan check for deposit may require more than one form of identification; (b) make no reference on the outside of the envelope containing a mail-loan check that indicates that a check is enclosed within such envelope; (c) provide that all mail-loan checks shall be non-transferable; and (d) include THE TRANSACTION FEE AND INTEREST RATE AND an expiration date of not more than six months on the mail-loan check, AS WELL AS ANY ADDITIONAL INFORMATION THAT THE SUPERINTENDENT MAY REQUIRE. 3. NO LENDING INSTITUTION SHALL ISSUE A MAIL-LOAN CHECK, EXCEPT IN RESPONSE TO A REQUEST OR APPLICATION THEREFOR. 4. FAILURE TO DESTROY OR RETURN A MAIL-LOAN CHECK SHALL NOT CONSTITUTE ACCEPTANCE OF THE CHECK. 5. Any lending institution which mails a mail-loan check in violation of the provisions of this section shall be liable for a civil penalty not to exceed five hundred dollars for each such violation. § 2. This act shall take effect on the one hundred twentieth day after it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00135-01-1
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.