Bill > A06870

This bill extends the effectiveness of a 2001 law that limits the check cashing exemption for national banks and other regulated financial entities. Specifically, the bill amends a previous legal provision by changing the expiration date from August 1, 2025, to August 1, 2027. In plain language, this means that the current restrictions on check cashing practices for national banks will remain in place for an additional two years beyond the previously set expiration date. The check cashing exemption limitation appears to be a regulatory measure designed to control certain banking practices, and this bill ensures that these regulations will continue to be enforced until 2027. The bill takes effect immediately upon passage, which is typical for legislative extensions of existing laws.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A6870