What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
History
- Recommit, enacting clause stricken
- Referred to banks
- Print number 2181a
- Amend and recommit to banks
- Referred to banks
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides for review by the superintendent of banking institution denials of banking services to "money services businesses" licensed in the state
In Senate Committee · Banks · Sponsor José Peralta
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the banking law, in relation to money services businesses
Purpose or general idea of bill
Provides for review by the superintendent of banking institution of any denials of banking services to money services businesses in the state, and for mediation should a bank deny these services.
Summary of specific provisions
An amendment that defines the terms money services business, banking services, automated clearing house services and banking institution. It also provides for the review of any denials made by the banking institutions by the superintendent, and mediation where requested.
Justification
Money services businesses play a vital role in the economy of New York State. This bill addresses and puts in place guidelines and a review process of denials and closings of money services businesses.This legislation has been awarded to mirror Federal legislation passed by the US House of Representatives, introduced by Carolyn Maloney, D - NY, and to provide for mediation.
Prior legislative history
2007-2008 - A1678B 06/18/08 - Held for consideration in Banks
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.