Bill
Bill > S1917
NJ S1917
Requires financial institutions to cash payroll checks under certain circumstances.
summary
Introduced
03/03/2022
03/03/2022
In Committee
03/03/2022
03/03/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill provides that, notwithstanding any other law to the contrary, a financial institution shall, upon the request of a person, including a minor, who presents a payroll check and who provides photographic identification indicating that he or she is the payee on that payroll check, cash the check without charging any fee for that service, as long as the person has an account with that financial institution or the check is drawn on that institution. A financial institution that violates a provision of this bill shall: (1) be subject to a fine of not more than $500 for each violation. The fine shall be collected by the Commissioner of Banking and Insurance in a summary manner pursuant to the "Penalty Enforcement Law of 1999," P.L.1999, c.274 (C.2A:58-10 et seq.); and (2) reimburse the person for any attorney's fees incurred by the person with respect to any legal services necessary to enforce the person's rights under the bill or to bring a civil action to recover damages caused by the financial institution's failure to comply with the provisions of the bill.
AI Summary
This bill requires financial institutions in New Jersey to cash payroll checks without charging a fee, as long as the person presenting the check has an account with that institution or the check is drawn on that institution. The bill defines "financial institution" to mean a state or federally chartered bank, savings bank, savings and loan association, or credit union doing business in the state, and "minor" as an individual under 18 years of age. The bill also imposes a fine of up to $500 for each violation and requires the financial institution to reimburse the person for any attorney's fees incurred in enforcing their rights under the bill or recovering damages from the institution's failure to comply.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 03/03/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S1917 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S2000/1917_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S2000/1917_I1.PDF |
Loading...