Bill > A3924

Introduced Session

This bill provides that, notwithstanding any other law to the contrary, a financial institution shall, upon the request of a minor who presents a payroll check and who provides reasonable 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 minor 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 minor for any attorney's fees incurred by the minor with respect to any legal services necessary to enforce the minor'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.

Committee Categories

Joe Danielsen (D)*,  Jamel Holley (D)*, 

Received in the Senate, Referred to Senate Commerce Committee (on 01/09/2017)