A01645 Summary:

BILL NOA01645
 
SAME ASNo Same As
 
SPONSORPretlow
 
COSPNSR
 
MLTSPNSR
 
Amd S9-t, Bank L
 
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.
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A01645 Actions:

BILL NOA01645
 
01/12/2015referred to banks
05/19/2015reported referred to codes
05/28/2015reported
05/29/2015advanced to third reading cal.462
01/06/2016referred to banks
05/24/2016reported referred to codes
06/06/2016reported referred to rules
06/07/2016reported
06/08/2016rules report cal.116
06/08/2016ordered to third reading rules cal.116
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A01645 Committee Votes:

BANKS Chair:Robinson DATE:05/24/2016AYE/NAY:20/7 Action: Favorable refer to committee Codes
RobinsonAyeTenneyNay
PerryAyeTediscoNay
MageeAyeFinchNay
AbbateAyeRaiaAye
MillerAyeCurranNay
WeprinAyeMalliotakisNay
RodriguezAyeLalorExcused
SimotasExcusedStecNay
RyanAyeCastorinaNay
KearnsAye
SepulvedaAye
MosleyAye
GjonajAye
FahyAye
BichotteAye
BlakeAye
LinaresAye
Jean-PierreAye
SeawrightAye
RichardsonExcused
CancelAye

CODES Chair:Lentol DATE:06/06/2016AYE/NAY:15/6 Action: Favorable refer to committee Rules
LentolAyeGrafNay
SchimmingerAyeGiglioNay
WeinsteinAyeMcKevittNay
HevesiAyeMontesanoNay
WrightAbsentRaNay
PretlowAyeTenneyNay
CookAye
CymbrowitzAye
TitusAye
O'DonnellAye
LavineAye
PerryAye
ZebrowskiAye
AbinantiAye
WeprinAye
MosleyAye

RULES Chair:Heastie DATE:06/07/2016AYE/NAY:29/0 Action: Favorable
HeastieAyeKolbAye
GottfriedAyeTediscoAye
LentolAyeOaksAye
FarrellAyeButlerAye
GanttAyeCrouchAye
NolanAyeFinchAye
WeinsteinAyeBarclayAye
HooperAyeRaiaAye
OrtizAyeDupreyAye
PretlowAye
CookAye
GlickAye
MorelleAye
AubryAye
EnglebrightAye
WrightExcused
DinowitzAye
ColtonAye
MagnarelliAye
PerryAye
MarkeyAye

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A01645 Floor Votes:

There are no votes for this bill in this legislative session.
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A01645 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1645
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 12, 2015
                                       ___________
 
        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:
 
     1    Section  1. Subdivisions 2 and 3 of section 9-t of the banking law, as
     2  added by chapter 309 of the laws of 2002, are amended and a new subdivi-
     3  sion 4 is added to read as follows:
     4    2. Any lending institution which issues mail-loan checks shall:
     5    (a) include on the face of each check issued to a non-customer a writ-
     6  ten statement, in legible type reading "ONE FORM OF  VALID  PHOTOGRAPHIC
     7  ID  NEEDED TO CASH OR DEPOSIT"; provided, however, that any entity cash-
     8  ing or accepting a mail-loan check for deposit may require more than one
     9  form of identification;
    10    (b) make no reference on the outside  of  the  envelope  containing  a
    11  mail-loan  check  that  indicates  that  a check is enclosed within such
    12  envelope;
    13    (c) provide that all mail-loan checks shall be non-transferable; and
    14    (d) include the transaction fee and interest rate  and  an  expiration
    15  date  of not more than six months on the mail-loan check, as well as any
    16  additional information that the superintendent may require.
    17    3. No lending institution shall issue a  mail-loan  check,  except  in
    18  response to a request or application therefor.
    19    4. Failure to destroy or return a mail-loan check shall not constitute
    20  acceptance of the check.
    21    5.  Any lending institution which mails a mail-loan check in violation
    22  of the provisions of this section shall be liable for  a  civil  penalty
    23  not to exceed five hundred dollars for each such violation.
    24    § 2. This act shall take effect on the one hundred twentieth day after
    25  it shall have become a law.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05357-01-5
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