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NY S02419
Bill
Status
Engrossed
6/12/2017
Primary Sponsor
Joseph Griffo
Click for details
AI Summary
- Changes the penalty for operating an unlicensed check cashing business from a Class A misdemeanor to a Class E felony under Banking Law Section 373(5)
- Imposes a fine of $2,500 for each transaction made in violation of unlicensed check cashing operations
- Applies the penalty to persons, partnerships, associations, corporations, and their members, officers, directors, agents, and employees
- Takes effect 120 days after enactment
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
5/9/2018
Committee Referrals
Banks5/9/2018
Banks1/3/2018
Banks6/12/2017
Banks1/13/2017
Full Bill Text
No bill text available