S3698 • 2025

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

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: James Sanders Jr.
Last action: 2026-06-05
Official status: In Senate Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

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

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

What This Bill Does

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

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-06-05 Senate
COMMITTED TO RULES
2026-05-14 Senate
ADVANCED TO THIRD READING
2026-05-13 Senate
2ND REPORT CAL.
2026-05-12 Senate
1ST REPORT CAL.1026
2026-01-07 Senate
REFERRED TO BANKS
2025-06-13 Senate
SUBSTITUTION RECONSIDERED
2025-06-13 Senate
RECOMMITTED TO RULES
2025-06-11 Senate
SUBSTITUTED BY A1515
2025-03-03 Senate
ADVANCED TO THIRD READING
2025-02-26 Senate
2ND REPORT CAL.
2025-02-25 Senate
1ST REPORT CAL.389
2025-01-29 Senate
REFERRED TO BANKS

Official Summary Text

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

Current Bill Text

Read the full stored bill text

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          3698

                               2025-2026 Regular Sessions

                                    I N  S E N A T E

                                    January 29, 2025
                                       ___________

        Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks

        AN ACT to amend the banking law, in relation to requiring licensed cash-
          ers of checks to file suspicious activity reports

          THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section  1. Section 371 of the banking law, as added by chapter 151 of
     2  the laws of 1945, is amended to read as follows:
     3    § 371.  Regulations.  The  superintendent  is  hereby  authorized  and
     4  empowered to make such rules and regulations, and such specific rulings,
     5  demands, and findings as [he] SUCH SUPERINTENDENT may deem necessary for
     6  the proper conduct of the business authorized and licensed under and for
     7  the enforcement of this article, in addition hereto and not inconsistent
     8  herewith.   SUCH RULES, REGULATIONS, RULINGS, DEMANDS AND FINDINGS SHALL
     9  INCLUDE, BUT NOT BE LIMITED TO, REQUIRING LICENSED CASHERS OF CHECKS  TO
    10  FILE SUSPICIOUS ACTIVITY REPORTS.
    11    § 2. This act shall take effect immediately.





         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03571-01-5