Bill > S08299

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 the existing law by changing the expiration date from August 1, 2025 to August 1, 2027, effectively prolonging the current restrictions on check cashing activities for two more years. The check cashing exemption rules, which were originally established in 2001, place certain limitations on how national banks and other regulated financial institutions can provide check cashing services. By extending the law's effectiveness until 2027, the bill ensures that these regulatory provisions remain in place, maintaining the current oversight and restrictions on check cashing practices. The bill takes effect immediately upon passage, which means the new expiration date will be implemented right away.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S8299