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NY A06571
Bill
Status
Introduced
3/22/2011
Primary Sponsor
Crystal Peoples-Stokes
Click for details
AI Summary
- Changes the penalty for unlicensed check-cashing from a class A misdemeanor to a class E felony
- Establishes a fine of $2,500 for each transaction made in violation of check-cashing licensing requirements
- Applies penalties to individuals, partnerships, associations, corporations, and their members, officers, directors, agents, and employees
- Takes effect on the one hundred twentieth day after becoming law
Legislative Description
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.
Last Action
referred to banks
1/4/2012
Committee Referrals
Banks3/22/2011
Full Bill Text
No bill text available