NY A06837

Creates new Section 6-N of Banking Law requiring all banking institutions in New York State to follow identification guidelines issued by the Department of Financial Services for banking transactions and services.

Requires the Department of Financial Services to complete a review of the validity of consular identifications issued by foreign governments by September 1, 2016.

Mandates the Department of Financial Services to issue identification guidelines to banking institutions by November 1, 2016.

Requires the Department of Financial Services to examine how Deferred Action for Childhood Arrivals (DACA) and Registered Provisional Immigrant Status documentation can be used to open bank accounts and report findings by September 1, 2016.

Defines "banking institution" to include banks, trust companies, savings banks, savings and loan associations, licensed foreign banks, and credit unions.