Senate Bill S7826A

2023-2024 Legislative Session

Mandates acceptance of the New York city identity card as a primary form of identification at all covered entities

download bill text pdf

Sponsored By

Current 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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Bill Amendments

2023-S7826 - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §13, Bank L

2023-S7826 - Summary

Enacts the pro-banking act to mandate acceptance of the New York city identity card as a primary form of identification at all covered entities, including all banking organizations, foreign banking corporations, and interstate branches.

2023-S7826 - Sponsor Memo

2023-S7826 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7826
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             December 20, 2023
                                ___________
 
 Introduced  by  Sen.  RAMOS  -- 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 mandating acceptance  of
   the New York city identity card as a primary form of identification at
   state-chartered  banks,  savings banks, savings and loan associations,
   and credit unions
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Legislative  findings.  The  legislature hereby finds and
 declares that:
   (a) Local law no. 35 for the year 2014 amended subchapter 1 of chapter
 1 of title 3 of the administrative code of  the  city  of  New  York  by
 adding  a  section  3-115,  creating  the  New  York  city identity card
 program. One of the main objectives of the program was to expand  access
 to  bank-approved  identification  cards, thereby reducing the number of
 unbanked residents across the city. In 2015, federal regulatory authori-
 ties notified the city agencies in charge of administering  the  program
 that  banks  could  use  the  New York city identity card to satisfy the
 minimum requirements of federal anti-money laundering laws. In 2016, the
 New York State Department of Financial  Services  further  "encourage[d]
 New  York  state-chartered and licensed financial institutions to accept
 the Municipal ID as a form of acceptable identification card."
   (b) Despite authorization by federal and state regulatory authorities,
 only approximately one-third of city banks  accept  the  New  York  city
 identity  card, leaving many city residents on the margins of the finan-
 cial system. As of 2017, 11.2 percent of households in New York city had
 no bank account and ten neighborhoods accounted for nearly 35 percent of
 those households. Residents of color, undocumented residents, and  resi-
 dents  living below the poverty line are disproportionately impacted and
 are at greater risk of falling victim to predatory  financial  services,

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13677-01-3
 S. 7826                             2
              

co-Sponsors

2023-S7826A - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §13, Bank L

2023-S7826A - Summary

Enacts the pro-banking act to mandate acceptance of the New York city identity card as a primary form of identification at all covered entities, including all banking organizations, foreign banking corporations, and interstate branches.

2023-S7826A - Sponsor Memo

2023-S7826A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7826--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             December 20, 2023
                                ___________
 
 Introduced  by  Sen.  RAMOS  -- 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 --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee

 AN  ACT to amend the banking law, in relation to mandating acceptance of
   the New York city identity card as a primary form of identification at
   all banking organizations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. This act shall be known and may be cited as the "pro-bank-
 ing act".
   § 2. Legislative findings. The legislature hereby finds  and  declares
 that:
   (a) Local law no. 35 for the year 2014 amended subchapter 1 of chapter
 1  of  title  3  of  the  administrative code of the city of New York by
 adding a section  3-115,  creating  the  New  York  city  identity  card
 program.  One of the main objectives of the program was to expand access
 to bank-approved identification cards, thereby reducing  the  number  of
 unbanked residents across the city. In 2015, federal regulatory authori-
 ties  notified  the city agencies in charge of administering the program
 that banks could use the New York city  identity  card  to  satisfy  the
 minimum requirements of federal anti-money laundering laws. In 2016, the
 New  York  State  Department of Financial Services further "encourage[d]
 New York state-chartered and licensed financial institutions  to  accept
 the Municipal ID as a form of acceptable identification card."
   (b) Despite authorization by federal and state regulatory authorities,
 only  approximately  one-third  of  city  banks accept the New York city
 identity card, leaving many city residents on the margins of the  finan-
 cial system. As of 2017, 11.2 percent of households in New York city had
 no bank account and ten neighborhoods accounted for nearly 35 percent of
 those  households. Residents of color, undocumented residents, and resi-
 dents living below the poverty line are disproportionately impacted  and
 are  at  greater risk of falling victim to predatory financial services,
 
              

co-Sponsors

2023-S7826B (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §13, Bank L

2023-S7826B (ACTIVE) - Summary

Enacts the pro-banking act to mandate acceptance of the New York city identity card as a primary form of identification at all covered entities, including all banking organizations, foreign banking corporations, and interstate branches.

2023-S7826B (ACTIVE) - Sponsor Memo

2023-S7826B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7826--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             December 20, 2023
                                ___________
 
 Introduced by Sens. RAMOS, COMRIE -- 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  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee -- committee discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN  ACT to amend the banking law, in relation to mandating acceptance of
   the New York city identity card as a primary form of identification at
   all covered entities
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. This act shall be known and may be cited as the "pro-bank-
 ing act".
   § 2. Legislative findings. The legislature hereby finds  and  declares
 that:
   (a) Local law no. 35 for the year 2014 amended subchapter 1 of chapter
 1  of  title  3  of  the  administrative code of the city of New York by
 adding a section  3-115,  creating  the  New  York  city  identity  card
 program.  One of the main objectives of the program was to expand access
 to bank-approved identification cards, thereby reducing  the  number  of
 unbanked residents across the city. In 2015, federal regulatory authori-
 ties  notified  the city agencies in charge of administering the program
 that banks could use the New York city  identity  card  to  satisfy  the
 minimum requirements of federal anti-money laundering laws. In 2016, the
 New  York  State  Department of Financial Services further "encourage[d]
 New York state-chartered and licensed financial institutions  to  accept
 the Municipal ID as a form of acceptable identification card."
   (b) Despite authorization by federal and state regulatory authorities,
 only  approximately  one-third  of  city  banks accept the New York city
 identity card, leaving many city residents on the margins of the  finan-
 cial system. As of 2017, 11.2 percent of households in New York city had

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13677-09-4
              

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