New York S 6659: Increases penalties for individuals or companies who engage in the business of cashing checks, drafts or money orders for consideration without a license

Bill Text

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S06659 Summary:

BILL NOS06659 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORGRIFFO

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COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §373, Bank L

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Increases penalties for individuals or companies who engage in the business of cashing checks, drafts or money orders for consideration without a license; makes such violation a class E felony; provides for a fine of $2,500 for each transaction.

Go to top S06659 Actions:

BILL NOS06659 

&nbsp

03/19/2025REFERRED TO BANKS

01/07/2026REFERRED TO BANKS

Go to topS06659 Committee&nbspVotes:

Go to topS06659 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS06659 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6659

 2025-2026 Regular Sessions

 IN SENATE

 March 19, 2025
 ___________

 Introduced by Sen. GRIFFO -- read twice and ordered printed, and when
 printed to be committed to the Committee on Banks

 AN ACT to amend the banking law, in relation to increasing the penalties
 for individuals or companies who engage in the business of cashing
 checks, drafts or money orders for consideration without a license

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 5 of section 373 of the banking law, as added
 2 by chapter 235 of the laws of 2008, is amended to read as follows:
 3 5. Notwithstanding the provisions of subdivision four of this section,
 4 any person, partnership, association or corporation and the several
 5 members, officers, directors, agents and employees thereof who shall
 6 violate the provisions of subdivision one of section three hundred
 7 sixty-seven of this article shall be guilty of a class [A misdemeanor] E
 8 felony and shall be punishable by a fine of two thousand five hundred
 9 dollars for each transaction made in violation of such subdivision.
 10 § 2. This act shall take effect on the one hundred twentieth day after
 11 it shall have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09907-01-5

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