Banks

Establishes the community development financial institution disability housing program within the New York state urban development corporation.

Clarifies that all wage and cash advances against salary or future pay are loans subject to the interest rate cap in the general obligations law.

Provides that any person who has been injured by reason of any violation of any such rules, regulations or policies as the superintendent may promulgate may bring an action in such person's own name; assert a counterclaim; or, if an action is commenced by the mortgagee or anyone acting on its behalf, bring a third party claim, against either the mortgagee and/or the mortgage servicer to enjoin any violations thereof; authorizes damages; makes related provisions.

Creates a banking development district working group to assess the banking development district program and provide an annual report to the governor and legislature on the strengths and weaknesses of such program; defines unbanked and underbanked.

Enacts provisions for the establishment and administration of joint accounts and non-survivorship accounts; provides for account agreements, payments during lifetime, and liability; provides for notice, competing claims, and court orders; defines terms; makes related provisions.

Requires a mortgagee to accept and apply payments; relates to the effectiveness thereof.

Relates to the community bank deposit program; increases the maximum amount of funds on deposit at a community banking institution to thirty million dollars.

Relates to the community bank deposit program; increases the maximum amount of funds on deposit at a community banking institution to thirty million dollars.

Relates to the application of certain provisions relating to commercial financing; provides that liability shall not be imposed on a provider if the actual annual percentage rate charged by the provider differs from the estimated annual percentage rate disclosed by the provider acting in good faith.

Allows a bank, in the discretion of the comptroller and the commissioner of taxation and finance, to arrange for the redeposit of moneys, in whole or in part, through a deposit placement program.

Prohibits certain financial institutions from charging a fee for changing the frequency of mortgage payments between monthly, semi-monthly, and biweekly payments.

Prohibits certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

Directs the superintendent of financial services to conduct an analysis of the financial stability of the check cashing industry and review the current system of licensing for such industry and issue reports on both topics.

Relates to the prohibition of lending institutions issuing mail-loan checks except in response to a request or application therefor; provides that the attorney general shall have the authority to enforce such provision and to impose penalties for violations; provides a private right of action for a recipient of an unsolicited mail-loan check; provides that the issuance of an unsolicited mail-loan check shall constitute a deceptive act or practice.

Relates to licensing consumer debt collectors; sets minimum standards and regulations; establishes penalties for violations.

Relates to the reporting of suspected financial exploitation; requires the superintendent of the department of financial services to develop guidelines relating to reporting suspected financial exploitation; provides that a third party who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.

Directs the department of financial services to conduct a study on the banking development district program and to make recommendations to improve such program.

Allows the department of financial services to have additional oversight of banks and insurance companies that are not currently licensed in this state; provides penalties for violations.

Provides that charges imposed by certain state chartered banking institutions in connection with a check or other written order drawn on insufficient funds shall not exceed the greater of five dollars or the pro rata share of such state chartered banking institution's total direct costs and charge-off losses for providing non-covered overdraft credit.

Prohibits a bank or trust company from charging a service charge or requiring a minimum balance for attorney trust or IOLA accounts that are non-interest bearing in nature; defines attorney trust account.

Prohibits banks from holding for deposit the funds from checks issued by the state.

Establishes the state financial literacy fund which provides funding for project grants to organizations in order to establish financial capability and financial literacy programs, products content and/or services for at-risk populations in New York.

Fixes the maximum interest rate for credit cards issued or used in this state at 10%.

Prohibits predatory automated teller machine fees at casinos and colleges.

Requires financial institutions to send a written notification of overdraft fees charged to account holders every 180 days.

Enacts the pro-banking act to mandate acceptance of the New York city identity card as a primary form of identification at all covered entities, including all banking organizations, foreign banking corporations, and interstate branches.

Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the commission may recommend legislation to create a state public bank for New York.

Establishes requirements for the creation and operation of limited purpose trust companies; establishes how to apply to operate as a limited purpose trust company.

Relates to licensing consumer debt collectors; sets minimum standards and regulations; establishes penalties for violations.

Provides interest rate limitations for financing arrangements and the extension of consumer credit; relates to the definitions of criminal usury in the first and second degrees; relates to the functions of the attorney general regarding rental purchase agreements.

Regulates commercial finance licensing; sets forth the application process for such licensing; makes conforming technical changes thereto.

Relates to the reporting of suspected financial exploitation; requires the superintendent of the department of financial services to develop guidelines relating to reporting suspected financial exploitation; provides that a third party who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.

Establishes a credit union deposit program for the state to deposit a portion of funds under its control into credit unions.

Expands eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or comparable apprenticeship and workforce training programs for the purchase of certain property.

Enacts the "Excelsior Opportunity Accounts Act"; establishes a special fund for EO accounts within the department of financial services for certain eligible individuals born after December 31, 2027, who reside in the state, are under age 18, with household income not exceeding 700% of the poverty level; provides for contribution and investment of monies of fund.

Requires individuals who perform compliance functions, duties or tasks to obtain a compliance officer or compliance practitioner license; establishes application and examination requirements to obtain, and continuing education requirements to maintain, licensure; permits the superintendent to issue licensing procedures and to prescribe regulations necessary for the proper supervision of compliance officers and practitioners.

Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.

Creates the consumer overdraft protection act to ensure that consumers are informed of their options in regard to overdraft protection.

Establishes a working group to create a pilot program for an alternative system to a credit score for unbanked persons, undocumented immigrants and any other individuals who would benefit from such alternative system.

Requires banks to send account notifications in certain circumstances.

Establishes the savings bank, savings and loan association or credit union municipal deposit program.

Requires banks to report to the superintendent annually on the amount of revenue earned from overdraft fees; prohibits banks from imposing overdraft fees during a ten day grace period; regulates the imposition of overdraft and NSF fees.

Enacts the "the empire state enhanced public payment system act" directing the department of financial services to develop, establish, and maintain a value storage and payment platform consisting of a digital master account and coordinate a system of individual wallets that enable payments to move between such individual wallets or payment accounts for use of New York residents.

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Provides for the licensing and regulation of income access services in the state.

Requires a mortgagee to accept and apply payments.

Relates to an exemption from the licensing requirements for servicers of student loans.

Establishes the New York state cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.

Extends the effectiveness of provisions of law relating to permissible fees in connection with open end loans from June 30, 2025 until June 30, 2027.

Establishes the New York state cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.

Relates to notice of the posting and modification of a pamphlet on residential mortgages of which such information shall be provided to mortgage bankers and banking organizations.

Enacts the "community financial services access and modernization act"; modernizes existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments; provides for a comprehensive regulatory framework for the delivery of the expanded financial services currently being offered.

Includes participation in a banking development district as a factor when assessing a banking institution's record of performance in relation to the Community Reinvestment Act of 1977.

Directs the superintendent of financial services to create a private education debt registry which shall contain information and documentation relating to loans issued by creditors including interest rates and copies of the notes and instruments used by such creditors for education loans.

Includes participation in a banking development district as a factor when assessing a banking institution's record of performance in relation to the Community Reinvestment Act of 1977.

Requires the development of a "what mortgage applicants need to know" pamphlet on residential mortgages; provides such pamphlet shall be posted and printed in the 6 most common non-English languages spoken by individuals with limited English proficiency in New York state.

Extends certain provisions of the banking law from September 10, 2024 until September 10, 2029.

Relates to establishing limitations on bank accounts after such accounts have been closed including opening or re-opening such account, requesting a deposit or withdrawal or assessing certain fees.

Clarifies the definition of "community bank institution"; expands eligible deposits to a community bank institution under the community bank deposit program; requires an annual report by the state comptroller and the commissioner of taxation and finance of the efficacy of the community bank deposit program.

Relates to the application of certain provisions relating to commercial financing; provides that liability shall not be imposed on a provider if the actual annual percentage rate charged by the provider differs from the estimated annual percentage rate disclosed by the provider acting in good faith.

Allows the department of financial services to have additional oversight of banks and insurance companies that are not currently licensed in this state; provides penalties for violations.

Allows the department of financial services to have additional oversight of banks and insurance companies that are not currently licensed in this state; provides penalties for violations.

Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the commission may recommend legislation to create a state public bank for New York.

Prohibits the inclusion of a confession of judgment in a contract or agreement for a financial product or service.

Creates a banking development district working group to assess the banking development district program and provide an annual report to the governor and legislature on the strengths and weaknesses of such program; defines unbanked and underbanked.

Prohibits fees for any service rendered through a banking organization relating to the use of an electronic benefit transfer card issued by the state or certain departments or agencies thereof.

Establishes the state financial literacy fund which provides funding for project grants to organizations in order to establish financial capability and financial literacy programs, products content and/or services for at-risk populations in New York.

Requires the development of a "what mortgage applicants need to know" pamphlet on residential mortgages; provides such pamphlet shall be posted and printed in the 6 most common non-English languages spoken by individuals with limited English proficiency in New York state.

Directs the development of materials to be provided to new employees relating to student loan repayment information.

Directs the development of materials relating to the public service loan forgiveness program to be provided to new employees hired for a post-graduate internship or an entry-level position that requires an associate's degree or higher.

Establishes the bank of Rochester, including provisions related to definitions; sponsors and corporate structure; powers and restrictions; governance; charter requirements; financial and operations frameworks; transparency and financial reporting; insurance; deposits; policy mandates; ethics and financial disclosure; inconsistency with other laws; and owners not to be considered bank holding companies.

Prohibits certain financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

Establishes standards for the closure of bank accounts in the state of New York to include providing notice of closure and the return of funds to account owners.

Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the commission may recommend legislation to create a state public bank for New York.

Enacts the "community financial services access and modernization act"; modernizes existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments; provides for a comprehensive regulatory framework for the delivery of the expanded financial services currently being offered.

Enacts the New York state money transmission disclosure act; requires each licensee providing a transmission transaction which involves currency of one country into the currency of another country to provide the customer with a written disclosure; authorizes the superintendent of financial services to implement any necessary rules and regulations.

Establishes the savings bank, savings and loan association or credit union municipal deposit program; defines terms; provides that a credit union accepting deposits of public money is subject to certain limitations and shall pledge assets or furnish other security satisfactory in form and amount to the depositor, for the repayment of monies held in the name of such depositor, when required to be secured by applicable law, decree, or regulation.

Authorizes New York-chartered banking institutions to exercise any permitted powers of its counterpart federally or out-of-state chartered banking institutions.

Enacts the "the empire state enhanced public payment system act" directing the department of financial services to develop, establish, and maintain a value storage and payment platform consisting of a digital master account and coordinate a system of individual wallets that enable payments to move between such individual wallets or payment accounts for use of New York residents.

Relates to including information concerning repayment of outstanding loans in the standard financial aid award letter.

Expands eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or comparable apprenticeship and workforce training programs for the purchase of certain property.

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Requires all banking organizations to have a notary public available during business hours; permits banking organizations to charge a fee for such service.

Relates to establishing limitations on bank accounts after such accounts have been closed including opening or re-opening such account, requesting a deposit or withdrawal or assessing certain fees.

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Directs the superintendent of banks to promulgate rules and regulations requiring licensed cashers of checks to file suspicious activity reports.

Provides for joint and survivorship accounts; provides that absent indication to the contrary, funds remaining in such an account upon the death of the depositor shall be deemed part of the depositor's estate.

Requires banks to report to the superintendent annually on the amount of revenue earned from overdraft fees; prohibits banks from imposing overdraft fees during a ten day grace period; regulates the imposition of overdraft and NSF fees.

Requires individuals who perform compliance functions, duties or tasks to obtain a compliance officer or compliance practitioner license; establishes application and examination requirements to obtain, and continuing education requirements to maintain, licensure; permits the superintendent to issue licensing procedures and to prescribe regulations necessary for the proper supervision of compliance officers and practitioners.

Expands consumer protections for usury and interest to small businesses.

Establishes a credit union deposit program for the state to deposit a portion of funds under its control into credit unions.

Prohibits lenders from blocking access to funds from a credit line mortgage.

Enacts the New York state bank act creating the New York state banking authority and New York state bank to serve New York state residents and businesses currently underserved by banking institutions.

Enacts the New York state money transmission disclosure act; requires each licensee providing a transmission transaction which involves currency of one country into the currency of another country to provide the customer with a written disclosure; authorizes the superintendent of financial services to implement any necessary rules and regulations.

Provides for the licensing and regulation of income access services in the state.

Prohibits banks from holding for deposit the funds from checks issued by the state.

Relates to civil penalties associated with financial frauds; redefines financial product or service to include warranties sold or provided to a consumer or small business or any guaranty or suretyship provided by a consumer.

Enacts the "Excelsior Opportunity Accounts Act"; establishes a special fund for EO accounts within the department of financial services for certain eligible individuals born after December 31, 2025, who reside in the state, are under age 18, with household income not exceeding 700% of the poverty level; provides for contribution and investment of monies of fund.

Requires lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card.

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.

Relates to the regulation and licensing of employer-integrated and non-verified on-demand pay providers.

Relates to establishing the state of New York public bank to use the state's depository assets to generate additional benefit for the people and the economy of the state.

Relates to penalties for violations of article fifteen of the executive law committed by mortgage bankers and mortgage brokers; includes such violations as grounds for suspension or revocation of license or registration.

Creates the consumer overdraft protection act to ensure that consumers are informed of their options in regard to overdraft protection.

Prohibits a bank or trust company from charging a service charge or requiring a minimum balance for attorney trust or IOLA accounts that are non-interest bearing in nature; defines attorney trust account.

Provides for joint and survivorship accounts; provides that absent indication to the contrary, funds remaining in such an account upon the death of the depositor shall be deemed part of the depositor's estate.

Requires banks to send account notifications in certain circumstances.

Directs the superintendent of financial services to create a private education debt registry which shall contain information and documentation relating to loans issued by creditors including interest rates and copies of the notes and instruments used by such creditors for education loans.

Establishes the New York state cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.

Allows the use of electronic notices and documents in premium finance transactions; sets guidelines for consent to the use of electronic notices and documents.

Provides that a community which is underbanked shall be criteria for the establishment of banking development districts.

Extends the effectiveness of provisions relating to limiting the check cashing exemption for national banks and other regulated entities to August 1, 2025.

Extends the effectiveness of provisions relating to limiting the check cashing exemption for national banks and other regulated entities to August 1, 2025.

Directs the superintendent of financial services to create a private education debt registry which shall contain information and documentation relating to loans issued by creditors including interest rates and copies of the notes and instruments used by such creditors for education loans.

Establishes the New York state cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.

Provides that a veteran seeking a housing loan under chapter 37 of title 38 of the United States Code be offered loan counseling services by a counselor certified by the United States department of housing and urban development under Part 214 of Title 24 of the Code of Federal Regulations prior to the processing of such application by a banking institution or mortgage lender and that the department of veterans' services shall promulgate regulations to ensure that no conflicts of interest exist between counselors and mortgage companies.

Requires financial institutions to send a written notification of overdraft fees charged to account holders every 180 days.

Establishes the New York state cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.

Requires 10% of the penalties imposed by the superintendent of financial services to be deposited in the community development financial institution fund.

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.

Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the legislature shall consider legislation to create a state public bank for New York.

Directs the development of materials to be provided to employees relating to student loan repayment information.

Extends the effectiveness of certain provisions relating to participation in the banking development districts program.

Relates to the reporting of suspected financial exploitation; requires the superintendent of the department of financial services to develop guidelines relating to reporting suspected financial exploitation; provides that a third party who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.

Establishes the "New York public banking act"; authorizes municipal and other local governments to form and control public banks through the ownership of capital stock or other ownership interests, and to loan or grant public funds or lend public credit to such public banks for the public purposes of achieving cost savings, strengthening local economies, supporting community economic development, and addressing infrastructure and housing needs for localities.

Directs the department of financial services to conduct a study on underbanked communities and households in New York state and to make recommendations to improve access to financial services.

Relates to including information concerning repayment of outstanding loans in the standard financial aid award letter.

Relates to including information concerning repayment of outstanding loans in the standard financial aid award letter.

Provides that any person who has been injured by reason of any violation of any such rules, regulations or policies as the superintendent may promulgate may bring an action in his or her own name; assert a counterclaim; or, if an action is commenced by the mortgagee or anyone acting on its behalf, bring a third party claim, against either the mortgagee and/or the mortgage servicer to enjoin any violations thereof; authorizes damages; makes related provisions.

Provides that any person who has been injured by reason of any violation of any such rules, regulations or policies as the superintendent may promulgate may bring an action in his or her own name; assert a counterclaim; or, if an action is commenced by the mortgagee or anyone acting on its behalf, bring a third party claim, against either the mortgagee and/or the mortgage servicer to enjoin any violations thereof; authorizes damages; makes related provisions.

Requires 10% of the penalties imposed by the superintendent of financial services to be deposited in the community development financial institution fund.

Relates to expanding eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or comparable apprenticeship and workforce training programs for the purchase of certain property.

Relates to expanding eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or comparable apprenticeship and workforce training programs for the purchase of certain property.

Relates to establishing limitations on bank accounts after such accounts have been closed including opening or re-opening such account, requesting a deposit or withdrawal or assessing certain fees.

Relates to modifying delinquent home loans and single point of contact; provides such point of contact shall be provided to a borrower who is 30 days or more delinquent.

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Relates to authorizing reverse cooperative apartment unit loans for persons sixty-two years of age or older; provides additional consumer protections.

Directs the superintendent of banks to promulgate rules and regulations requiring licensed cashers of checks to file suspicious activity reports.

Relates to establishing the state of New York public bank to use the state's depository assets to generate additional benefit for the people and the economy of the state.

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.

Relates to civil penalties associated with financial frauds; redefines financial product or service to include warranties sold or provided to a consumer or small business or any guaranty or suretyship provided by a consumer.

Requires the superintendent of the department of financial services to assess persons regulated under the financial services law that engage in virtual currency business activity for the operating expenses of the department that are solely attributable to regulating such persons.

Prohibits imposing surcharges on automated teller machines located on state university of New York or city university of New York property.

Provides for assessment of activities conducted by the banking institution to support persons, small businesses, minority- and women-owned businesses, and certain not-for-profit corporations affected by the outbreak of coronavirus disease 2019 (COVID-19).

Requires financial planners working with the elderly to be certified financial planners.

Requires individuals who perform compliance functions, duties or tasks to obtain a compliance officer or compliance practitioner license; establishes application and examination requirements to obtain, and continuing education requirements to maintain, licensure; permits the superintendent to issue licensing procedures and to prescribe regulations necessary for the proper supervision of compliance officers and practitioners.

Enacts the "Home Equity Fraud Act" to control improper activities by home improvement contractors and finance companies; prohibits mortgage brokers or agents from acting as home improvement contractors; provides additional protections for mortgagors and homeowners.

Prohibits fees for any service rendered through a bank relating to the use of an electronic benefit transfer card issued by the state or certain departments or agencies thereof.

Relates to including information concerning repayment of outstanding loans in the standard financial aid award letter.

Prohibits a bank or trust company from charging a service charge or requiring a minimum balance for attorney trust or IOLA accounts that are non-interest bearing in nature; defines attorney trust account.

Relates to the rate of interest to be paid on judgments and accrued claims; ties the rate of interest to the maturity treasury yield as published by the federal reserve.

Relates to the regulation and licensing of employer-integrated and non-verified on-demand pay providers.

Requires lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card.

Establishes the empire state inclusive value ledger establishment and administration act to create a master account and system of individual wallets to make and receive payments to state entities and residents of the state; authorizes the disbursement of a portion of unclaimed remittances to workers who have been furloughed or unable to work due to Coronavirus.

Relates to the creation of the office of financial services for new Americans for the purpose of assisting immigrant communities in gaining financial knowledge and understanding.

Authorizes certain state regulated institutions to offer disaster forbearance agreements to qualified mortgagors whose income has been adversely affected by the outbreak of COVID-19 and is unable to make his or her mortgage payment.

Deems asset-based lending transactions to be loans for all purposes.

Enacts the "New York state federal worker banking assistance act" to require the superintendent of financial services to take into account efforts of banking institutions to modify terms on existing loans, extend new loans with low- to no-interest rates, or the waiving of fees to help furloughed federal employees during a shutdown when assessing the record of such institutions.

Expands consumer protections for usury and interest to small businesses.

Requires the forbearance of residential mortgage payments for any mortgagor who demonstrates financial hardship as a result of the COVID-19 pandemic for one year.

Establishes the state financial literacy fund.

Clarifies the definition of "community bank institution"; expands eligible deposits to a community bank institution under the community bank deposit program; requires an annual report by the state comptroller and the commissioner of taxation and finance on the efficacy of the community bank deposit program.

Creates the consumer overdraft protection act to ensure that consumers are informed of their options in regard to overdraft protection.

Relates to credit unions.

Relates to the assessment of the record of performance of mortgage bankers in helping to meet the credit needs of local communities.

Directs the superintendent of financial services to study overdraft fees and prepare a report to be delivered to the governor, the temporary president of the senate and the speaker of the assembly.

Relates to the reporting of suspected financial exploitation; requires the superintendent of the department of financial services to develop guidelines relating to reporting suspected financial exploitation; provides that a third party who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.

Establishes the "New York public banking act"; authorizes municipal and other local government to form and control public banks through the ownership of capital stock or other ownership interests, and to loan or grant public funds or lend public credit to such public banks for the public purposes of achieving cost savings, strengthening local economies, supporting community economic development, and addressing infrastructure and housing needs for localities.

Extends the effectiveness of certain provisions relating to permissible fees in connection with open end loans.

Requires financial institutions to send a written notification of overdraft fees charged to account holders every 180 days.

Prohibits state chartered banking institutions from investing in and providing financing for private prisons.

Provides for annual reporting regarding meetings of the state charter advisory board; extends the effectiveness of such board for five years.

Relates to enacting the "community financial services access and modernization act"; modernizes existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments; provides for a comprehensive regulatory framework for the delivery of the expanded financial services currently being offered.

Requires banks to provide written notification that accepting an alternative loan payment schedule may have a negative impact on credit scores; makes related provisions.

Provides that the the department of financial services shall use the information made available to them for the study of which financial institutions provide loans to landlords acquiring or refinancing property that includes rent-regulated and/or small business tenants.

Provides that the the department of financial services shall use the information made available to them for the study of which financial institutions provide loans to landlords acquiring or refinancing property that includes rent-regulated and/or small business tenants.

Directs a study of the status of consumer awareness and financial education in New York state to instead require that the department of financial services website provide information to enhance consumer financial literacy and consumer awareness which shall include information on basic banking and personal financial management, how credit scores are determined and ways to establish good credit, options for investing and increasing savings, best practices for protecting personal information, and any other topics deemed appropriate by the superintendent.

Requires certain providers that extend specific terms of commercial financing to a recipient to disclose certain information about the offer to the recipient, including information concerning the financing amount, finance charges, the annual percentage rate, the total repayment amount, the term, payment amounts, other potential fees, any prepayment costs and a description of any collateral requirements.

Directs the department of financial services to study, evaluate and make recommendations concerning lending practices by financial institutions to landlords acquiring property that includes small business and/or rent-regulated tenants; requires a report on the department's findings and recommendations for legislative action within eighteen months.

Directs the New York state department of financial services and the New York state department of state's consumer protection division to conduct a study on consumer awareness and financial education in New York state and to make recommendations for a consumer awareness and financial education program.

Requires financial institutions to notify a customer thirty days prior to charging a fee based on account inactivity; requires such notice to include a telephone number and the full contact information of a representative of the financial institution responsible for resolving any matter relating to the fee.

Relates to penalties for violations of article fifteen of the executive law committed by mortgage bankers and mortgage brokers; includes such violations as grounds for suspension or revocation of license or registration.

Relates to regulating commercial finance licensing and making conforming technical changes relating thereto.

Provides that any person who has been injured by reason of any violation of any such rules, regulations or policies as the superintendent may promulgate may bring an action in his or her own name; assert a counterclaim; or, if an action is commenced by the mortgagee or anyone acting on its behalf, bring a third party claim, against either the mortgagee and/or the mortgage servicer to enjoin any violations thereof; authorizes damages; makes related provisions.

Relates to modifying delinquent mortgage loans and single point of contact.

Relates to the forbearance of residential and commercial investment property mortgage repayments; requires New York regulated banking organizations to make applications for forbearance for residential and commercial investment property mortgage repayments available to qualified mortgagors during the period in which the NY on PAUSE order is in effect in the county wherein the qualified mortgagor holder is located and to grant such applications for a period of 180 days.

Prohibits state chartered banking institutions from investing in and providing financing for private prisons.

Requires banks to disclose any negative consequences of establishing an alternative payment schedule on a loan.

Provides that every banking institution which maintains checking accounts for customers shall pay checks in the order received within account balance; provides such banks may dishonor check for insufficient funds, but then must honor smaller checks within amounts on deposit in the subject account.

Requires banks to disclose any negative consequences of establishing an alternative payment schedule on a loan.

Provides for assessment of activities conducted by the banking institution to support persons, small businesses, minority- and women-owned businesses, and certain not-for-profit corporations affected by the outbreak of coronavirus disease 2019 (COVID-19).

Requires banking institutions to accept the identification cards issued by the consulate general that were approved by the NYS department of financial services as a valid form of identification for all banking transactions.

Relates to conduit services performed by licensees.

Prohibits fees for any service rendered through a bank relating to the use of an electronic benefit transfer card issued by the state or certain departments or agencies thereof.

Relates to the forbearance for commercial retail space property mortgage payments; requires New York regulated banking organizations to make applications for forbearance for commercial retail space mortgages available to qualified mortgagors during the period in which the NY on PAUSE order is in effect in the county wherein the qualified mortgagor is located and to grant such applications for a period of 180 days.

Requires the forbearance of residential mortgage payments for any mortgagor who demonstrates financial hardship as a result of the COVID-19 pandemic for one year.

Establishes the state of emergency small business and not-for-profit organization loan program.

Relates to civil immunity for information shared with the National Insurance Crime Bureau.

Establishes the empire state inclusive value ledger establishment and administration act to create a master account and system of individual wallets to make and receive payments to state entities and residents of the state; authorizes the disbursement of a portion of unclaimed remittances to workers who have been furloughed or unable to work due to Coronavirus.

Clarifies the definition of "community bank institution", expands eligible deposits to a community bank institution under the community bank deposit program and requires an annual report by the state comptroller and the commissioner of taxation and finance on the efficacy of the community bank deposit program.

Relates to the definition of "servicing" by student loan servicers.

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Creates the consumer overdraft protection act to ensure that consumers are informed of their options in regard to overdraft protection.

Provides that a banking institution must cash checks drawn on said institution, if payee presents a form of valid identification; provides a refusal to cash such check after identification, makes such institution guilty of a violation.

Provides that every banking institution which maintains checking accounts for customers shall pay checks in the order received within account balance; provides such banks may dishonor check for insufficient funds, but then must honor smaller checks within amounts on deposit in the subject account.

Establishes the state financial literacy commission; creates a state financial literacy commission to measurably improve the financial literacy and financial capability of New York state residents.

Requires financial institutions to notify a customer thirty days prior to charging a fee based on account inactivity; requires such notice to include a telephone number and the full contact information of a representative of the financial institution responsible for resolving any matter relating to the fee.

Establishes a taxi industry predatory lending task force to study and analyze predatory lending practices affecting the taxi industry in the state.

Relates to unauthorized entities, unregistered mortgage brokers and mortgage fraud; establishes additional penalties against unlicensed or unregistered persons or entities engaging in activities after receiving a cease and desist notice; relates to the crime of mortgage fraud.

Enacts the "New York state federal worker banking assistance act" to require the superintendent of financial services to take into account efforts of banking institutions to modify terms on existing loans, extend new loans with low- to no-interest rates, or the waiving of fees to help furloughed federal employees during a shutdown when assessing the record of such institutions.

Directs the development of materials to be provided to new employees relating to student loan repayment information.

Relates to the rate of interest to be paid on judgments and accrued claims; ties the rate of interest to the maturity treasury yield as published by the federal reserve.

Establishes the New York state commission on establishing a bank owned by New York state for purposes of determining what benefits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York could provide for the New York State government, local governments, communities, private businesses, community banks, credit unions and people; requires publication of the commission's findings and recommendations.

Relates to the definition of residence and residential real property.

Requires lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card.

Establishes the New York state infrastructure development bank within the banking department; makes a $250,000,000 appropriation therefor.

Relates to refinancing of an existing mortgage loan; provides for a separate disclosure which compares monthly payments under the previous mortgage with the combined monthly payments for the new mortgage loan, property tax and insurance.

Relates to prohibiting financial institutions from charging a fee for periodic paper statements when such statements are required for an application for public assistance.

Requires banks to send account notifications in certain circumstances.

Prohibits the inclusion of a confession of judgment in a contract or agreement for a financial product or service.

Expands consumer protections for usury and interest to small businesses.

Prohibits banking organizations from issuing mail-loan checks without request or application therefor; provides that failure to destroy or return a mail-loan check does not constitute an acceptance thereof; provides that mail-loan checks shall have the transaction fee and interest rate included on the check.

Relates to preventing banks from asking account holders for proof of citizenship and using citizenship as a reason for freezing a bank account.

Prohibits imposing surcharges on automated teller machines located on state university of New York or city university of New York property.

Relates to credit unions.

Establishes the office of financial resilience to develop and implement new programs and initiatives for the purpose of supporting local economies and promoting resilient financial models.

Relates to the creation of the office of financial services for new Americans for the purpose of assisting immigrant communities in gaining financial knowledge and understanding.

Relates to student loan servicers.

Requires the development of a "what mortgage applicants need to know" pamphlet on residential mortgages and provides such pamphlet shall be posted and printed in the 6 most common non-English languages spoken by individuals with limited English proficiency in New York state.

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.

Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill, including any interest thereon, or twenty dollars, whichever amount is less.

Relates to immunity from civil liability and information furnished to or from the National Insurance Crime Bureau, which is dedicated to the investigation and prosecution of the banking law or the insurance law.

Relates to authorizing reverse cooperative apartment unit loans for persons sixty-two years of age or older; provides additional consumer protections.

Requires the assessment of a banking institution's record of performance to be in writing detailing the record of performance in helping to meet the credit needs of local communities.

Requires agents of licensed money transmitters to remit moneys to the licensee within the time frame provided in the contract between the agent and the licensee; makes agents liable for treble damages for failure to remit moneys in a timely manner.

Requires agents of licensed money transmitters to remit moneys to the licensee within the time frame provided in the contract between the agent and the licensee; makes agents liable for treble damages for failure to remit moneys in a timely manner.

Relates to assessment of the record of performance of banking institutions in helping to meet the credit needs of local communities.

Increases the number of authorized withdrawal transactions at no charge from basic banking accounts for account holders sixty-five years of age or older from eight to twelve.

Relates to extending certain provisions authorizing banks and trust companies to exercise the rights of national banks to September 10, 2024.

Amends a chapter of the laws of 2018 creating the digital currency task force to increase the members from 9 to 13.

Requires a bank or financial institution selling or transferring a mortgage during a modification process to provide the borrower with a written list of all documents relating to such application for modification that were provided to the bank or financial institution to which such mortgage was sold or transferred; and relates to the obligations of subsequent mortgage servicer shall assume all duties and obligations related to any previously approved first lien loan modification or other foreclosure prevention alternative.

Extends the effectiveness of provisions of law relating to permissible fees in connection with open end loans.

Directs the superintendent to develop a public information campaign regarding establishment of joint deposit and convenience accounts.

Directs the superintendent to develop a public information campaign regarding establishment of joint deposit and convenience accounts.

Relates to preventing banks from asking account holders for proof of citizenship and using citizenship as a reason for freezing a bank account.

Extends certain provisions of law relating to limiting the check cashing exemption for national banks and other regulated entities from August 1, 2018 to August 1, 2023.

Relates to the banking development district program.

Relates to requiring a notice promulgated by the attorney general to be posted on all automated teller machines regarding skimming.

Relates to the definition of eligible securities in relation to obligations of domestic corporations.

Directs the department of financial services to study, evaluate and make recommendations concerning lending practices by financial institutions to landlords acquiring property that includes small business and/or rent-regulated tenants; requires a report on the department's findings and recommendations for legislative action within eighteen months.

Requires the development of a "what mortgage applicants need to know" pamphlet on residential mortgages and provides such pamphlet shall be posted and printed in the 6 most common non-English languages spoken by individuals with limited English proficiency in New York state.

Relates to immunity and information furnished to or from a not-for-profit organization dedicated to the investigation and prosecution of the banking law or the insurance law.

Relates to immunity and information furnished to or from a not-for-profit organization dedicated to the investigation and prosecution of the banking law or the insurance law.

Relates to directing the department of financial services to study, evaluate and make recommendations concerning online lending institutions.

Prohibits automated teller machines or point of sale terminals in certain locations from accepting electronic benefit transfer cards for cash withdrawals.

Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons.

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.

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.

Provides that every banking institution which maintains checking accounts for customers shall pay checks in the order received within account balance; provides such banks may dishonor check for insufficient funds, but then must honor smaller checks within amounts on deposit in the subject account.

Relates to establishing the empire state public bank to use the state's depository assets to generate additional benefit for the people and the economy of the state.

Relates to financial technology products and services; establishes a regulatory sandbox program.

Requires that banks which offer convenience accounts provide information regarding such accounts as an alternative at the time that a joint account is established.

Relates to community reinvestment evaluation exemptions; a bank organization which has total assets of less than one billion dollars with a satisfactory or outstanding rating shall be exempt from community reinvestment evaluations by the department of financial services.

Relates to directing the department of financial services to submit a report concerning licensure, limits on fees and interest and disclosure practices of businesses engaged in pension loan advancements on or before January 1, 2019.

Increases the penalty for robbery of property from a bank; makes the crime a class C felony.

Requires agents of licensed money transmitters to remit moneys to the licensee within the time frame provided in the contract between the agent and the licensee; makes agents liable for treble damages for failure to remit moneys in a timely manner.

Relates to the creation of the office of financial services for new Americans for the purpose of assisting immigrant communities in gaining financial knowledge and understanding.

Relates to including information concerning repayment of outstanding loans in the standard financial aid award letter.

Relates to conduit services performed by licensees.

Relates to enacting the "community financial services access and modernization act of 2017"; modernizes existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments; provides for a comprehensive regulatory framework for the delivery of the expanded financial services currently being offered.

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.

Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report thereon.

Requires banks to disclose any negative consequences of establishing an alternative payment schedule on a loan.

Requires banking institutions to accept the identification cards issued by the consulate generals that were approved by the NYS department of financial services as a valid form of identification for all banking transactions.

Enacts the "credit creation pilot program act of New York"; directs the superintendent of financial services to create and implement such act; defines terms; provides that a program licensee may not offer or make a program loan or impose any charges or fees without prior approval from the superintendent of financial services to participate in the program; provides for disclosures, statements and receipts, referral partners, permitted services and prohibited activities.

Relates to proof of identification for foreign born nationals.

Prohibits a bank or trust company from charging a service charge or requiring a minimum balance for attorney trust or IOLA accounts that are non-interest bearing in nature; defines attorney trust account.

Establishes the state financial literacy commission; creates a state financial literacy commission to measurably improve the financial literacy and financial capability of New York state residents.

Directs the superintendent of banks to promulgate rules and regulations requiring licensed cashers of checks to file suspicious activity reports.

Relates to prohibiting a lender from blocking access to funds issued under a credit line mortgage.

Enacts the New York state money transmission disclosure act; requires each licensee providing a transmission transaction which involves currency of one country into the currency of another country to provide the customer with a written disclosure; authorizes the superintendent of financial services to implement any necessary rules and regulations.

Requires lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card.

Prohibits financial institutions from charging a fee in excess of five dollars to a customer based on account inactivity.

Prohibits imposing surcharges on automated teller machines located on state university of New York or city university of New York property.

Increases the penalty for robbery of property from a bank; makes the crime a class C felony.

Requires banks to install automatic police notification software on their automated teller machines.

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.

Relates to the definition of residence and residential real property.

Requires all banks and credit unions to have a notary public available during business hours; permits banks to charge a fee for such service.

Requires banks and financial institutions entering into negotiations to modify a mortgage on real property located in this state to be responsible for the continuation of the modification process until its completion regardless of whether the mortgage is sold.

Establishes the task force on online lending institutions to identify the main participants in the online lending industry, how they serve consumers and small businesses, the impact thereof, and to report its findings and recommendations.

Establishes the New York state infrastructure development bank within the banking department, makes a $250,000,000 appropriation therefor and provides for the expiration thereof upon its repeal in 15 years.

Extends the effectiveness of certain provisions relating to permissible fees in connection with open end loans.

Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons.

Relates to bank organization examinations; requires an extension from one year to eighteen months where a bank has total assets of less than one billion dollars.

Extends the effectiveness of certain provisions relating to permissible fees in connection with open end loans.

Relates to clarifying the definitions of "illegal money transmission" and "money laundering"; relates to penalties for unlicensed money transmitters; relates to timeliness of prosecutions.

Relates to defining consummation of a mortgage loan.

Extends the effectiveness of the state charter advisory board.

Requires the superintendent of financial services to study and issue a report on online small business lending products and platforms that originate from lenders licensed by New York state or advertised to small businesses within the state.

Relates to enacting the "community financial services access and modernization act".

Extends the effectiveness of the state charter advisory board.

Prohibits banking organizations from issuing mail-loan checks without request or application therefor; provides that failure to destroy or return a mail-loan check does not constitute an acceptance thereof; provides that mail-loan checks shall have the transaction fee and interest rate included on the check.

Prohibits banking organizations from issuing mail-loan checks without request or application therefor; provides that failure to destroy or return a mail-loan check does not constitute an acceptance thereof; provides that mail-loan checks shall have the transaction fee and interest rate included on the check.

Relates to community reinvestment evaluation exemptions; a bank organization which has total assets of less than one billion dollars with a satisfactory or outstanding rating shall be exempt from community reinvestment evaluations by the department of financial services.

Relates to retail installment contracts and transmitters of money; makes clear that the term "retail instalment obligation" includes an agreement no matter where entered into if it is executed by the buyer in this state and if solicited in person by a salesperson or other person acting on his or her own behalf or that of the seller; clarifies when banking institutions are exempt from coverage of the article and when New York persons are subject to the protections of this article.

Relates to retail installment contracts and transmitters of money; makes clear that the term "retail instalment obligation" includes an agreement no matter where entered into if it is executed by the buyer in this state and if solicited in person by a salesperson or other person acting on his or her own behalf or that of the seller; clarifies when banking institutions are exempt from coverage of the article and when New York persons are subject to the protections of this article.

Relates to credit unions.

Authorizes state chartered banking institutions to invest their assets to the extent authorized in the rules and regulations of the Federal Deposit Insurance Corporation.

Requires a study and report on banking products and services offered in low income communities.

Requires mortgage investing institutions or their contracted vendors to be financially responsible for any interest or penalties charged as a result of an erroneous mortgage registration filed by such institution or vendor.

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.

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.

Enacts the "credit creation pilot program act of New York"; directs the superintendent; defines terms; provides that a program licensee may not offer or make a program loan or impose any charges or fees without prior approval from the superintendent of financial services to participate in the program; provides for disclosures, statements and receipts, referral partners, permitted services and prohibited activities.

Requires inclusion and explanation of additional annual data in assessing record of performance of banking institutions in meeting community credit needs; additional data to include but not be limited to: loans for housing low and moderate-income residents of low and moderate income areas, the scope of efforts to market housing and small business loans in low and moderate-income areas and other data.

Increases the penalty for robbery of property from a bank; makes the crime a class C felony.

Provides that every banking institution which maintains checking accounts for customers shall pay checks in the order received within account balance; provides such banks may dishonor check for insufficient funds, but then must honor smaller checks within amounts on deposit in the subject account.

Requires automated teller machine operators to install global positioning systems within each machine.

Prohibits foreign banking corporations from issuing payday loans; defines payday loans as any transaction in which a short-term cash advance is made to a consumer in exchange for (i) a consumer's personal check or share draft, in the amount of an advance plus a fee, where presentment or negotiation of such check or share draft is deferred by agreement of the parties until a designated future date; or (ii) a consumer's authorization to debit the consumer's transaction account, in the amount of the advance plus a fee, where such account will be debited on or after a designated future date.

Relates to bank organization examinations; requires an extension from one year to eighteen months where a bank has total assets of less than one billion dollars.

Conforms criminal provisions of the mortgage banking provisions to those relating to mortgage loan originators.

Prohibits a mortgage servicer from obtaining force-placed insurance in certain circumstances; requires a mortgage servicer to provide written notices prior to obtaining force-placed insurance; regulates the cost of coverage a mortgage servicer may obtain for force-placed insurance.

Enacts the "Home Equity Fraud Act" to control improper activities by home improvement contractors and finance companies; prohibits mortgage brokers or agents from acting as home improvement contractors; provides additional protections for mortgagors and home owners.

Increases the number of authorized withdrawal transactions at no charge from basic banking accounts for account holders sixty-five years of age or older from eight to twelve.

Requires financial institutions to notify a customer thirty days prior to charging a fee based on account inactivity; requires such notice to include a telephone number and the full contact information of a representative of the financial institution responsible for resolving any matter relating to the fee.

Relates to refinancing of an existing mortgage loan; provides for a separate disclosure which compares monthly payments under the previous mortgage with the combined monthly payments for the new mortgage loan, property tax and insurance.

Provides for securities fraud whistleblower incentives and protections; defines terms; grants whistleblower awards for one or more whistleblowers who voluntarily provide original information to the attorney general that was the basis for a successful covered enforcement action; protects whistleblowers from retaliation; authorizes the attorney general to adopt any necessary rules and regulations; makes related provisions.

Authorizes state chartered banking institutions to pledge investment grade corporate bonds to secure state and municipal deposits; also authorizes the pledging of municipal bonds having a maturity of more than 5 years.

Relates to proof of identification for foreign born nationals.

Requires transmitters of money to automatically refund any non-completed transfer within sixty days.

Requires agents of licensed money transmitters to remit moneys to the licensee within the time frame provided in the contract between the agent and the licensee; makes agents liable for treble damages for failure to remit moneys in a timely manner.

Relates to clarifying the definitions of "illegal money transmission" and "money laundering"; relates to penalties for unlicensed money transmitters; relates to timeliness of prosecutions.

Requires banks and financial institutions entering into negotiations to modify a mortgage on real property located in this state to be responsible for the continuation of the modification process until its completion regardless of whether the mortgage is sold.

Establishes the New York state infrastructure development bank within the banking department, makes a $250,000,000 appropriation therefor and provides for the expiration thereof upon its repeal in 15 years.

Relates to the procurement of banking services.

Requires mortgagee banks to provide written notice to mortgagor when such mortgagor is no longer required to maintain personal mortgage insurance coverage; provides such notice shall be delivered to the mortgagor within thirty days of the date upon which the mortgagor shall have acquired sufficient equity in real property subject to the mortgage so as to eliminate the necessity for personal mortgage insurance.

Relates to prohibiting a lender from blocking access to funds issued under a credit line mortgage.

Requires banks to send account notifications in certain circumstances.

Prohibits banks from holding for deposit the funds from checks issued by the state.

Requires financial planners working with the elderly to be certified financial planners.

Regulates the provision of refund anticipation loans by person and entities other than banking institutions; requires that at the time a borrower applies for a refund anticipation loan, a facilitator shall disclose to such borrower certain information relating to fees and interest rates; defines terms.

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Requires mortgage lenders and brokers to provide consumers with a mortgage bill of rights pamphlet which must be read and signed by the consumer prior to applying for a mortgage.

Prohibits automated teller machines or point of sale terminals in certain locations from accepting electronic benefit transfer cards for cash withdrawals.

Provides that a banking institution must cash checks drawn on said institution, if payee presents a form of valid identification; provides a refusal to cash such check after identification, makes such institution guilty of a violation.

Requires the development of a mortgage bill of rights pamphlet on residential mortgages and provides such pamphlet shall be posted and printed in the 8 most popularly spoken languages in the state.

Requires notice to renters of safe deposit boxes regarding fees and charges.

Relates to the qualifications for membership and general powers of credit unions.

Relates to the qualifications for membership and general powers of credit unions.

Relates to threshold rates for defining subprime home loans which are serviced by the federal housing administration.

Provides that requirements relating to the preservation of certain banking records may be satisfied by maintenance of original papers or other records, photographic reproductions, or records stored in electronic storage media.

Makes technical corrections to the banking law.

Extends provisions relating to the power of banks, private bankers, trust companies, savings banks, savings and loan associations, credit unions and foreign banking corporations to exercise the rights of national banks.

Relates to including credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); relates to directing the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.

Provides that requirements relating to the preservation of certain banking records may be satisfied by maintenance of original papers or other records, photographic reproductions, or records stored in electronic storage media.

Authorizes banks to refuse payment of moneys when there is reason to believe that a vulnerable adult is being financially exploited.

Increases the penalty for robbery of property from a bank; makes the crime a class C felony.

Directs the department of financial services to study, evaluate and make recommendations concerning licensure, limits on fees and interest and disclosure practices of businesses engaged in pension loan advancements.

Relates to retail instalment contracts and transmitters of money; makes clear that the term "retail instalment obligation" includes an agreement no matter where entered into if it is executed by the buyer in this State and if solicited in person by a salesperson or other person acting on his or her own behalf or that of the seller; clarifies when banking institutions are exempt from coverage of the article and when New York persons are subject to the protections of this article.

Prohibits banking institutions from withholding insurance payment funds from a customer in excess of an amount equal to the institution's investment in the property.

Requires agents of licensed money transmitters to remit moneys to the licensee within the time frame provided in the contract between the agent and the licensee; makes agents liable for treble damages for failure to remit moneys in a timely manner.

Relates to banking development districts; requires renewal of certain branches within banking development districts.

Conforms criminal provisions of the mortgage banking provisions to those relating to mortgage loan originators.

Prohibits banks from holding for deposit the funds from checks issued by the state.

Provides that every banking institution which maintains checking accounts for customers shall pay checks in the order received within account balance; provides such banks may dishonor check for insufficient funds, but then must honor smaller checks within amounts on deposit in the subject account.

Creates the consumer overdraft protection act to ensure that consumers are informed of their options in regard to overdraft protection.

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Prohibits financial institutions from charging a fee in excess of five dollars to a customer based on account inactivity.

Requires inclusion and explanation of additional annual data in assessing record of performance of banking institutions in meeting community credit needs; additional data to include but not be limited to: loans for housing low and moderate-income residents of low and moderate income areas, the scope of efforts to market housing and small business loans in low and moderate-income areas and other data.

Prohibits automated teller machines or point of sale terminals in certain locations from accepting electronic benefit transfer cards for cash withdrawals.

Includes credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); directs the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; and provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.

Prohibits financial institutions from charging a fee to a customer based on account inactivity.

Requires banks to send account notifications in certain circumstances.

Enacts the "Electronic Fund Transfer Privacy Act"; provides privacy protection for consumers engaging in electronic fund transfer transactions by limiting disclosure of personal information about any consumer involved in such and limiting the circumstances in which government authority may get such information; outlines procedures and limitations for obtaining such information and civil penalties for violations.

Requires agents of licensed money transmitters to remit moneys to the licensee within the time frame provided in the contract between the agent and the licensee; makes agents liable for treble damages for failure to remit moneys in a timely manner.

Requires automated teller machine operators to install global positioning systems within each machine.

Requires notice to renters of safe deposit boxes regarding fees and charges.

Requires mortgage lenders and brokers to provide consumers with a mortgage bill of rights pamphlet which must be read and signed by the consumer prior to applying for a mortgage.

Requires posting notice of the department of financial services toll free consumer's hot-line telephone number.

Requires banks to post information about basic banking services near their exits and entrances, including information concerning minimum balances, initial deposits, maximum fees chargeable, and withdrawal limitations.

Regulates the provision of refund anticipation loans by person and entities other than banking institutions; requires that at the time a borrower applies for a refund anticipation loan, a facilitator shall disclose to such borrower certain information relating to fees and interest rates; defines terms.

Requires all banking institutions in the state to accept a statutory short form power of attorney and powers of attorney which survive disability or incompetence; references existing provisions relating to powers of attorney in the general obligations law; holds banks harmless for such acceptance unless they have actual written notice of revocation or termination.

Prohibits a mortgage servicer from obtaining force-placed insurance in certain circumstances; requires a mortgage servicer to provide written notices prior to obtaining force-placed insurance; regulates the cost of coverage a mortgage servicer may obtain for force-placed insurance.

Enacts the "Home Equity Fraud Act" to control improper activities by home improvement contractors and finance companies; prohibits mortgage brokers or agents from acting as home improvement contractors; provides additional protections for mortgagors and home owners.

Requires banking institutions to accept the identification cards issued by the consulate generals that were approved by the NYS department of financial services as a valid form of identification for all banking transactions.

Increases the penalty for robbery of property from a bank; makes the crime a class C felony.

Requires banks to accept the Matricula consular identification card issued by the Mexican Consulate General and the Tarjeta Cosular identification card issued by the Ecuadorian Consulate General as valid identification for all banking transactions.

Requires banks to send account notifications in certain circumstances.

Enacts the private automated teller machine safety act; requires operators of private automated teller machines to register their machines with the superintendent of financial services; imposes a fee for the registration of such machines; provides monetary penalties for those operators and building owners who do not comply with the provisions of the act.

Enacts the "short-term financial services loan act"; authorizes licensed cashers of checks to provide short-term loans under certain circumstances.

Prohibits imposing surcharges on automated teller machines located on state university of New York or city university of New York property.

Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill, including any interest thereon, or twenty dollars, whichever amount is less.

Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report thereon.

Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons.

Requires banks to disclose any negative consequences of establishing an alternative payment schedule on a loan.

Establishes certain educational requirements, and directs and authorizes the superintendent to establish a mortgage broker licensing exam.

Relates to permitting the offering of savings promotion raffles by authorized banking organizations.

Relates to automated teller machine fee disclosure; eliminates provisions requiring an automated teller machine operator to post a sign that a fee is imposed for the use of such machine, as well as the amount of such fee.

Amends the banking law, in relation to permitting the offering of savings promotion raffles by authorized banking organizations.

Relates to extending the provisions of chapter 591 of the laws of 2001 relating to limiting the check cashing exemption for national banks.

Requires banks to defer mortgage payments of customers who are delinquent.

Allows savings banks, savings and loan associations and credit unions to accept deposits from municipal corporations and authorizes the deposit of certain public funds of political subdivisions and school districts in savings banks, savings and loan associations and credit unions.

Prohibits automated teller machines or point of sale terminals in certain locations from accepting electronic benefit transfer cards for cash withdrawals.

Requires banks to accept the Matricula consular identification card issued by the Mexican Consulate General and the Tarjeta Cosular identification card issued by the Ecuadorian Consulate General as valid identification for all banking transactions.

Prohibits compensation based on home loan terms by mortgage brokers or mortgage lenders.

Relates to branches, trust offices and interstate branching transactions.

Relates to the maximum amount of funds which the state comptroller and the commissioner of taxation and finance may deposit and the maximum amount of funds on deposit at a community banking institution.

Relates to unauthorized entities, unregistered mortgage brokers and mortgage fraud; establishes additional penalties against unlicensed or unregistered persons or entities engaging in activities after receiving a cease and desist notice; relates to the crime of mortgage fraud.

Prohibits compensation based on home loan terms by mortgage brokers or mortgage lenders.

Provides that no agreement for preauthorized electronic fund transfers entered into on or after January first, two thousand thirteen permit or require the transfer of any amount as a penalty or final payment after a stop payment notice has been given.

Relates to restrictions on employees of the banking department, collecting assessment fees, suspending mortgage bankers and brokers for cause and eliminating outdated language and provisions; relates to interest rate increases on mortgage loans after default.

Provides that a banking institution must cash checks drawn on said institution, if payee presents a form of valid identification; provides a refusal to cash such check after identification, makes such institution guilty of a violation.

Conforms criminal provisions of the mortgage banking provisions to those relating to mortgage loan originators.

Relates to branches, trust offices and interstate branching transactions.

Makes provisions allowing any individual to make not more than three mortgage loans, nor more than five in a two year period, to family members without requiring an individual to obtain a mortgage banking license.

Requires posting notice of the department of financial services toll free consumer's hot-line telephone number.

Authorizes credit unions to conduct savings promotion prize giveaways.

Relates to the rate of interest to be paid on judgments and accrued claims; ties the rate of interest to the maturity treasury yield as published by the federal reserve.

Increases the penalty for robbery of property from a bank; makes the crime a class C felony.

Requires inclusion and explanation of additional annual data in assessing record of performance of banking institutions in meeting community credit needs; additional data to include but not be limited to: loans for housing low and moderate-income residents of low and moderate income areas, the scope of efforts to market housing and small business loans in low and moderate-income areas and other data.

Relates to increasing penalties for violations by unlicensed transmitters of money.

Treats a branch or agency of a foreign banking corporation licensed under article 5 of the banking law as a banking institution for the purposes of provisions governing the purchase of assets and with regard to the transfer of fiduciary relationships.

Establishes a wire transfer fee imposing a fee on every wire transfer and transmission to any foreign country and directs the deposit of such fees into an undocumented student education fund, the funds of which shall be made available for the payment of tuition and other fees and charges of a student who is attending a city university of New York or the state university of New York and who is without lawful immigration status or is an undocumented person.

Requires financial institutions to notify a customer thirty days prior to charging a fee based on account inactivity; such notice shall include a telephone number and the full contact information of a representative of the financial institution responsible for resolving any matter relating to the fee.

Relates to banking development districts; requires renewal of certain branches within banking development districts.

Relates to the procurement of banking services.

Relates to the dealings of mortgage brokers and home improvement contractors; exempts from provisions relating to payment of mortgage proceeds to a borrower or third party, rather than directly to a home improvement contractor, those home improvement loans insured by the FHA under the National Housing Act or the Energy Policy Act of 1992.

Relates to retail instalment contracts and transmitters of money; makes clear that the term "retail instalment obligation" includes an agreement no matter where entered into if it is executed by the buyer in this State and if solicited in person by a salesperson or other person acting on his or her own behalf or that of the seller; clarifies when banking institutions are exempt from coverage of the article and when New York persons are subject to the protections of this article.

Relates to clarifying the definitions of "illegal money transmission" and "money laundering"; relates to penalties for unlicensed money transmitters; relates to timeliness of prosecutions.

Requires banks and financial institutions entering into negotiations to modify a mortgage on real property located in this state to be responsible for the continuation of the modification process until its completion regardless of whether the mortgage is sold.

Allows savings banks, savings and loan associations and credit unions to accept deposits from municipal corporations and authorizes the deposit of certain public funds of political subdivisions and school districts in savings banks, savings and loan associations and credit unions.

Enacts the "short-term financial services loan act"; authorizes licensed cashers of checks to provide short-term loans under certain circumstances.

Relates to prohibiting a lender from blocking access to funds issued under a credit line mortgage.

Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report within 2 years.

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.

Establishes the New York state infrastructure development bank within the banking department, makes a $250,000,000 appropriation therefor and provides for the expiration thereof upon its repeal in 15 years.

Requires financial planners working with the elderly to be certified financial planners.

Requires mortgagee banks to provide written notice to mortgagor when such mortgagor is no longer required to maintain personal mortgage insurance coverage; provides such notice shall be delivered to the mortgagor within thirty days of the date upon which the mortgagor shall have acquired sufficient equity in real property subject to the mortgage so as to eliminate the necessity for personal mortgage insurance.

Establishes the savings bank, savings and loan association or credit union municipal deposit program.

Requires banks to defer mortgage payments of customers who are delinquent.

Requires all banking institutions in the state to accept a statutory short form power of attorney and powers of attorney which survive disability or incompetence; references existing provisions relating to powers of attorney in the general obligations law; holds banks harmless for such acceptance unless they have actual written notice of revocation or termination.

Includes credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); directs the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; and provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.

Enacts the New York state money transmission disclosure act; requires each licensee providing a transmission transaction which involves currency of one country into the currency of another country to provide the customer with a written disclosure; authorizes the superintendent of banks to implement any necessary rules and regulations.

Enacts the "Electronic Fund Transfer Privacy Act"; provides privacy protection for consumer engaging in electronic fund transfer transactions by limiting disclosure of personal information about any consumer involved in such and limiting the circumstances in which government authority may get such information; outlines procedures and limitations for obtaining such information and civil penalties for violations.

Requires banks to post information about basic banking services near their exits and entrances, including information concerning minimum balances, initial deposits, maximum fees chargeable, and withdrawal limitations.

Prohibits banks from holding for deposit the funds from checks issued by the state.

Requires all mortgage brokers to be licensed, establishes certain educational requirements, and directs and authorizes the superintendent to establish a mortgage broker licensing exam.

Includes credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); directs the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; and provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.

Provides that there shall be no solicitation for credit card holders through state or city university of NY unless credit education courses are provided.

Requires banking institutions to accept the Dominican consular identification card, issued by the consulate general of the Dominican Republic, as a valid form of identification for all banking transactions.

Requires banks to install automatic police notification software on their automated teller machines.

Amends the definition of "bank holding company" to replace the phrase "a banking institution" to "two or more banking institutions".

Relates to certain powers and duties of the superintendent of banks; authorizes the superintendent to set standards for creditworthiness for certain bonds and obligations; makes other technical amendments.

Enacts the private automated teller machine safety act; requires operators of private automated teller machines to register their machines with the superintendent of banks; imposes a fee for the registration of such machines; provides monetary penalties for those operators and building owners who do not comply with the provisions of the act.

Extends date of certain provisions relating to participation in the banking department districts program to January 1, 2017.

Allows savings banks, savings and loan associations and credit unions to accept deposits from municipal corporations and authorizes the deposit of certain public funds of political subdivisions and school districts in savings banks, savings and loan associations and credit unions.

Enacts the "short-term financial services loan act"; authorizes licensed cashers of checks to provide short-term loans under certain circumstances.

Provides that a banking institution may claim the right of set off against a deposit account if notice of the set off together with the reasons for the set off are mailed to the depositor prior to such action; provides that failure to provide such notice shall result in the forfeiture of the right of set off against the depositor.

Establishes the New York state infrastructure development bank within the banking department, makes a $250,000,000 appropriation therefor and provides for the expiration thereof upon its repeal in 15 years.

Relates to extending the provisions of chapter 591 of 2001 relating to limiting the check cashing exemption for national banks.

Directs every banking organization or foreign banking corporation transacting business in this state to cash properly endorsed social security checks presented by the payee, upon sufficient identification, notwithstanding the fact that such payee does not maintain an account with such organization or corporation, upon proof that such payee is sixty-two years of age or older; defines "sufficient identification".

Relates to extending the provisions of chapter 591 of the laws of 2001 relating to limiting the check cashing exemption for national banks.

Requires all mortgage brokers to be licensed, establishes certain educational requirements, and directs and authorizes the superintendent to establish a mortgage broker licensing exam.

Provides that where a home improvement contractor is acting as a mortgage broker without being registered as required under the Banking Law, a mortgage banker, mortgage broker or exempt organization may not engage in such transaction with the contractor, and shall promptly notify the banking department that such person is acting as an unregistered broker.

Requires ATMs to use both audio and visual system of relaying messages to its customers; provides that this provision would enable those individuals that are visually impaired to access ATMs without the assistance of another person; requires the audio system to convey substantially the same information as the visual; provides for rules and regulations to be promulgated by the superintendent of banks.

An act to amend the general business law and the banking law, in relation to enacting the private automated teller machine safety act

Enacts the "short-term financial services loan act"; authorizeslicensed cashers of checks to provide short-term loans under certain circumstances.

Makes permanent the provisions of chapter 591 of the laws of 2001 relating to limiting the check cashing exemption for national banks and other regulated entities.

An act to amend the banking law, in relation to regulating the use and dissemination of confidential customer information by financial institutions

Provides criteria for membership in credit unions and permits the extension of certain services to nonmembers.

Provides that every banking institution which maintains checking accounts for customers shall pay checks in the order received within account balance; provides such banks may dishonor check for insufficient funds, but then must honor smaller checks within amounts on deposit in the subject account.

Regulates the provision of refund anticipation loans by person and entities other than banking institutions; requires that at the time a borrower applies for a refund anticipation loan, a facilitator shall disclose to such borrower certain information relating to fees and interest rates; defines terms.

An act to amend the banking law, in relation to the number of withdrawal transactions from a basic banking account

Authorizes credit unions to participate in the excelsior linked deposit program and raises the limit on the amount permitted to be on deposit at any given time.

Establishes the savings bank, savings and loan association or credit union municipal deposit program; defines credit unions, savings banks, and savings and loan associations; state comptroller shall retain copy of resolution designating a bank, savings bank, savings and loan association.

Enacts the "foreclosure prevention act of 2009"; provides for a one-year moratorium on foreclosures; requires a homeowner to attend a counseling session; requires courts to meet with parties at a mandatory settlement conference.

Requires all banking institutions in the state to accept a statutory short form power of attorney and powers of attorney which survive disability or incompetence; references existing provisions relating to powers of attorney in the general obligations law; holds banks harmless for such acceptance unless they have actual written notice of revocation or termination.

An act to amend the banking law, in relation to establishing the New York state money transmission disclosure act

Requires banks to accept the Matricula consular identification card issued by the Mexican Consulate General and the Tarjet Cosular identification card issued by the Ecuadorian Consulate General as valid identification for all banking transactions.

An act to amend the banking law, in relation to fees charged by banking institutions and services provided by such banking institutions

An act to amend the banking law, in relation to requiring banks to post notices of basic banking services available

An act to amend the banking law, in relation to allowing credit unions to offer membership to the domestic partners of persons otherwise eligible for membership in such credit union

An act to amend the banking law, in relation to the power of the banking board to regulate mortgage escrow accounts

Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill, including any interest thereon, or twenty dollars, whichever amount is less.

An act to amend the banking law, in relation to establishing personal development account programs

An act to amend the banking law, in relation to day of deposit to day of withdrawal accounts

Provides that maturity notices shall include an itemized listing of the dollar amount in the account, the holder's name and the interest being earned.

An act to amend the general business law, in relation to restricting the disclosure of personal information contained in electronic fund transfers

An act to amend the banking law, in relation to requiring mortgage investing institutions to provide notice when personal mortgage insurance is no longer required

Permits remote deposit capture machines, clarifies the definition of capital impairment for banking institutions, modifies reporting required by banking organizations, conforms criminal provisions of the mortgage banking article to those in the mortgage loan originator article, reduces operating expenses of the banking department, and makes other technical changes.

Establishes the reverse mortgage fairness act of 2009; provides that proceeds of a reverse mortgage shall not be considered as income for the purposes of the exemption on personal property for persons sixty-five and over.

Extends the effectiveness of section 12-a of the banking law and makes corresponding technical corrections to extend the of certain insurance law provisions.

An act to amend the banking law, in relation to assessment of the record of performance of banking institutions in helping to meet the credit needs of local communities

Authorizes the establishment of multiple branches in an existing banking development district by a bank, trust company or national bank.