Bill Text: NY A06281 | 2021-2022 | General Assembly | Introduced

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Bill Title: Prohibits banking organizations from imposing check cashing fees.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2022-01-05 - referred to banks [A06281 Detail]

Download: New_York-2021-A06281-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          6281

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                     March 12, 2021
                                       ___________

        Introduced by M. of A. HUNTER -- read once and referred to the Committee
          on Banks

        AN  ACT  to  amend  the  banking law, in relation to prohibiting certain
          check cashing fees

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

     1    Section  1.  Section 9-h of the banking law, as added by chapter 90 of
     2  the laws of 1985, is amended to read as follows:
     3    § 9-h. Imposition of service charges prohibited. 1. No banking  organ-
     4  ization  shall  impose  any  service  charge with respect to any deposit
     5  account as a result of the loss of a check or money  which  is  properly
     6  deposited  with  the  banking organization by delivery to an employee of
     7  the banking organization for credit to the deposit account and for which
     8  a written receipt is issued by the employee.
     9    2. No banking organization  shall  impose,  or  seek  to  impose,  any
    10  service  charge, or collect any fee, for the cashing of a check or draft
    11  drawn on an account at such banking organization, from a person to  whom
    12  such check or draft is payable, regardless of whether or not such person
    13  to  whom  such check or draft is payable is a customer or account holder
    14  of the banking organization upon which such check  or  draft  is  drawn.
    15  Nothing in this subdivision shall require a banking organization to cash
    16  a  check  or a draft where the account from which such check or draft is
    17  payable does not maintain sufficient funds to pay such check  or  draft.
    18  Nothing in this subdivision shall further prohibit any banking organiza-
    19  tion from charging any account holder any service charge for the cashing
    20  of a check or a draft. Nothing in this subdivision shall additionally be
    21  deemed  to  prevent  any banking organization from requesting to examine
    22  from any person seeking to cash a check or a draft drawn on such banking
    23  organization, for sufficient identification necessary to properly  iden-
    24  tify  such  person  as the person to whom the check or draft is payable.
    25  For purposes of this section, a valid and up to date  driver's  license,
    26  non-driver's  identification  card,  or  United States passport shall be
    27  deemed to constitute sufficient identification.
    28    § 2. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00831-01-1