Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 30, 2024 |
print number 7826b |
May 30, 2024 |
amend (t) and recommit to banks |
May 14, 2024 |
print number 7826a |
May 14, 2024 |
amend (t) and recommit to banks |
Jan 03, 2024 |
referred to banks |
Dec 20, 2023 |
referred to rules |
Senate Bill S7826A
2023-2024 Legislative Session
Sponsored By
(D, WF) 13th Senate District
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
Actions
Bill Amendments
2023-S7826 - Details
- Current Committee:
- Senate Banks
- Law Section:
- Banking Law
- Laws Affected:
- Add §13, Bank L
2023-S7826 - Sponsor Memo
BILL NUMBER: S7826 SPONSOR: RAMOS TITLE OF BILL: 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 PURPOSE: This bill adds a new section 13 to the banking law to mandate 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. SUMMARY OF PROVISIONS: Section 1. Sets forth legislative findings. Section 2. Sets forth definitions.
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
(D) 14th Senate District
2023-S7826A - Details
- Current Committee:
- Senate Banks
- Law Section:
- Banking Law
- Laws Affected:
- Add §13, Bank L
2023-S7826A - Sponsor Memo
BILL NUMBER: S7826A SPONSOR: RAMOS TITLE OF BILL: 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 PURPOSE: This bill adds a new section 13 to the banking law to mandate 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. SUMMARY OF PROVISIONS: Section 1. This act shall be known and may be cited as the "pro-banking act". Section 2. Sets forth legislative findings.
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
(D) 14th Senate District
(D, WF) 31st Senate District
2023-S7826B (ACTIVE) - Details
- Current Committee:
- Senate Banks
- Law Section:
- Banking Law
- Laws Affected:
- Add §13, Bank L
2023-S7826B (ACTIVE) - Sponsor Memo
BILL NUMBER: S7826B SPONSOR: RAMOS TITLE OF BILL: 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 PURPOSE: This bill adds a new section 13 to the banking law to mandate 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. SUMMARY OF PROVISIONS: Section 1. This act shall be known and may be cited as the "pro-banking act". Section 2. Sets forth legislative findings. Section 3. Sets forth definitions. Amends the banking law by adding a
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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