NY A09807

Replaces terminology of "mobile unit" with "limited station" throughout the banking law to modernize language for check cashing licensees.

Expands the definition of "person" to include corporations, partnerships, associations, and limited liability companies to allow various business entities to operate as licensed check cashers.

Increases the maximum check amount that licensees can cash from $15,000 to $20,000, with exceptions for government checks, financial institutions, insurance companies, and certain benefit fund checks.

Permits post-dated check cashing under specified conditions, including checks dated up to five business days after presentment for government and payroll checks, and checks up to $1,000 for natural persons, subject to safety and soundness requirements.

Requires the superintendent of financial services to review and report within 180 days on the costs and efficiency of the check cashing licensing system, with amendments to section 373 expiring June 30, 2026.