New York Senate Bill 2649

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 23 2023 - 25% progression
Action: 2024-01-03 - REFERRED TO BANKS
Pending: Senate Banks Committee
Text: Latest bill text (Introduced) [HTML]

Prohibits foreign banking corporations from issuing payday loans; defines payday loans as any transaction in which a short-term cash advance is made to a consumer in exchange for: a consumer's personal check or share draft, in the amount of an advance plus a fee, where presentment or negotiation of such check or share draft is deferred by agreement of the parties until a designated future date; or a consumer's authorization to debit the consumer's transaction account, in the amount of the advance plus a fee, where such account will be debited on or after a designated future date.

Prohibits foreign banking corporations from issuing payday loans; defines payday loans as any transaction in which a short-term cash advance is made to a consumer in exchange for: a consumer's personal check or share draft, in the amount of an advance plus a fee, where presentment or negotiation of such check or share draft is deferred by agreement of the parties until a designated future date; or a consumer's authorization to debit the consumer's transaction account, in the amount of the advance plus a fee, where such account will be debited on or after a designated future date.

Sen. Leroy Comrie [D]

Sen. Jabari Brisport [D]

Date	Chamber	Action
2024-01-03	Senate	REFERRED TO BANKS
2023-01-23	Senate	REFERRED TO BANKS

A06189 (Same As) 2024-01-03 - referred to banks

Type	Source
Summary	https://www.nysenate.gov/legislation/bills/2023/S2649
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=S02649&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S02649