S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    672
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 9, 2017
                                ___________
 
 Introduced  by  M.  of  A.  RODRIGUEZ  --  read once and referred to the
   Committee on Banks
 
 AN ACT to amend the banking law, in relation to enacting the  "community
   financial  services access and modernization act of 2017"; and provid-
   ing for the repeal of certain provisions upon expiration thereof

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title. This act shall be known as and may be cited as
 the "community financial services access and modernization act of 2017".
   §  2.  Paragraph  (b)  of subdivision 5 of section 18-a of the banking
 law, as amended by chapter 155 of the laws of 2012, is amended  to  read
 as follows:
   (b) two thousand dollars when the application relates to the licensing
 of  an  additional  location or change of location or the licensing of a
 [mobile unit]  LIMITED STATION of a licensed [casher of  checks]  FINAN-
 CIAL SERVICES PROVIDER; or
   §  3.  The  third undesignated paragraph of section 340 of the banking
 law, as added by chapter 22 of the laws of 1990, is amended to  read  as
 follows:
   Nothing  in  this  article  shall  apply  to  licensed collateral loan
 brokers OR LICENSED FINANCIAL SERVICES PROVIDERS.
   § 4. Section 366 of the banking law, as amended by chapter 49  of  the
 laws  of  1961,  subdivision  1 as amended by chapter 849 of the laws of
 1964 and as further amended by section 104 of part A of  chapter  62  of
 the  laws  of 2011, subdivisions 2 and 3 as renumbered by chapter 132 of
 the laws of 1969, is amended to read as follows:
   § 366. Definitions. When used in this article. 1. The  term  "licensed
 [casher  of  checks] FINANCIAL SERVICES PROVIDER" means any [individual,
 partnership, unincorporated  association  or  corporation]  PERSON  duly
 licensed  by the superintendent of financial services to engage in busi-
 ness pursuant to the provisions of this article.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD05202-01-7

 A. 672                              2
 
   2. The term "licensee" means a  PERSON  licensed  [casher  of  checks,
 drafts  and/or  money orders] TO PROVIDE FINANCIAL SERVICES REGULATED BY
 THIS ARTICLE.
   3.  The  term  ["mobile  unit"] "LIMITED STATION" means any vehicle or
 other movable means from which the business of [cashing  checks,  drafts
 or  money orders] PROVIDING FINANCIAL SERVICES REGULATED BY THIS ARTICLE
 is to be conducted.
   4. THE TERM "PERSON" MEANS  ANY  INDIVIDUAL  OR  OTHER  LEGAL  ENTITY,
 INCLUDING ANY CORPORATION, PARTNERSHIP, ASSOCIATION OR LIMITED LIABILITY
 COMPANY.
   5.  THE  TERM  "CONDUIT  SERVICES"  MEANS ANY ACTIVITY PERMITTED TO BE
 OFFERED BY A LICENSEE UNDER THIS ARTICLE TO  ITS  CUSTOMERS  IN  COLLAB-
 ORATION WITH A STATE OR FEDERALLY CHARTERED BANK, TRUST COMPANY, SAVINGS
 BANK,  SAVINGS  AND  LOAN  ASSOCIATION  OR  CREDIT  UNION SUBJECT TO THE
 APPROVAL OF THE SUPERINTENDENT, PROVIDED NO CONDUIT SERVICES UNDER  THIS
 SECTION  SHALL  BE APPROVED, WHICH EXCEED PREVAILING USURY PROVISIONS IN
 STATE LAW, INCLUDING BUT NOT LIMITED TO:
   (A) BUSINESS AND  COMMERCIAL  LOANS  OFFERED  BY  LICENSEES  THAT  ARE
 LICENSED  UNDER  ARTICLE  NINE  OF  THIS CHAPTER PROVIDED, HOWEVER, THAT
 PRIOR TO MAKING A LOAN DIRECTLY, A LICENSEE IS  REQUIRED  TO  OFFER  AND
 PROCESS A LOAN FROM A COLLABORATING BANK OR CREDIT UNION WITH THE LICEN-
 SEE  UNDER  THIS  SECTION  THAT MAY PROVIDE A MORE FAVORABLE RATE AND/OR
 TERMS TO THE PROSPECTIVE BORROWER;
   (B) ACCOUNT ACCESS SERVICES;
   (C) BILL PAYMENT SERVICES; AND
   (D) ASSISTANCE IN PREPARATION AND SUBMISSION OF FORMS TO BE  PROCESSED
 BY THE COLLABORATING BANK OR CREDIT UNION.
   6.  THE  TERM  "FINANCIAL SERVICES" MEANS OFFERING OR PROVIDING ANY OF
 THE FOLLOWING FINANCIAL PRODUCTS OR SERVICES: (A) THE CASHING OF CHECKS,
 DRAFTS AND/OR MONEY ORDERS,
   (B) MONEY TRANSMISSION SERVICES AS DEFINED IN  ARTICLE  THIRTEEN-B  OF
 THIS  CHAPTER, PROVIDED, HOWEVER, A LICENSED FINANCIAL SERVICES PROVIDER
 OFFERING MONEY TRANSMISSION PURSUANT TO ARTICLE THIRTEEN-B OF THIS CHAP-
 TER, OTHER THAN AS AN AGENT OF A LICENSEE, SHALL FIRST OBTAIN A  LICENSE
 UNDER THAT ARTICLE,
   (C) BILL PAYMENT SERVICES,
   (D) THE SALE OF PREPAID DEBIT CARDS; AND
   (E) CONDUIT SERVICES AS DEFINED IN THIS ARTICLE.
   7.  THE TERM "MASTER LICENSE" SHALL MEAN AN ORIGINAL LICENSE ISSUED BY
 THE SUPERINTENDENT THAT AUTHORIZES A PERSON TO ENGAGE IN THE BUSINESS OF
 CASHING OF CHECKS AND RELATED FINANCIAL SERVICES, AND IN THE CASE  OF  A
 LICENSEE WHO HAS MULTIPLE LICENSED BUSINESS LOCATIONS AT THE TIME OF THE
 EFFECTIVE DATE OF THIS SUBDIVISION, THE INITIAL LONGEST SITE CONTINUOUS-
 LY LICENSED UNDER THIS ARTICLE.
   8.  THE TERM "SUPPLEMENTAL LICENSE" SHALL MEAN A LICENSE ISSUED BY THE
 SUPERINTENDENT THAT AUTHORIZES A  PERSON  HAVING  A  MASTER  LICENSE  TO
 ENGAGE  IN  THE  BUSINESS  OF  CASHING  OF  CHECKS AND RELATED FINANCIAL
 SERVICES AT BRANCH LOCATIONS, AND IN THE CASE  OF  A  LICENSEE  WHO  HAS
 MULTIPLE  LICENSED  BUSINESS LOCATIONS AT THE TIME OF THE EFFECTIVE DATE
 OF THIS SUBDIVISION, ANY LICENSE ISSUED TO AN  EXISTING  LICENSEE  AFTER
 THE LICENSE FOR THE ORIGINAL SITE.
   §  5. Section 367 of the banking law, as amended by chapter 151 of the
 laws of 1945, subdivision 3 as amended by section 7 of part D-1 of chap-
 ter 109 of the laws of 2006, subdivision 4 as amended by chapter  96  of
 the laws of 1981, is amended to read as follows:

 A. 672                              3
 
   § 367.   License  requirements;  fees;  capital  requirements.  1.  No
 person[, partnership, association or corporation] shall  engage  in  the
 business  of  cashing checks, drafts or money orders for a consideration
 without first obtaining a license from the superintendent.
   2.  Application  for such license shall be in writing, under oath, and
 in the form prescribed by the  superintendent,  and  shall  contain  the
 name,  and  the  address both of the residence and place of business, of
 the applicant, and if the applicant is a  co-partnership  [or],  associ-
 ation  OR  LIMITED  LIABILITY COMPANY, of every member thereof, and if a
 corporation, of each officer and director thereof; also, if the business
 is to be conducted at a specific address, the address at which the busi-
 ness is to be conducted, and if the business is to be conducted  from  a
 [mobile unit] LIMITED STATION, the New York state registration number or
 other  identification of such [mobile unit] LIMITED STATION and the area
 in which the applicant proposes to operate such  [mobile  unit]  LIMITED
 STATION;  and  also  such  further information as the superintendent may
 require.
   3. Such applicant at the time of making such application shall pay  to
 the superintendent a fee as prescribed pursuant to section eighteen-a of
 this  chapter  for  investigating the application.  AN APPLICATION FOR A
 MASTER LICENSE SHALL  BE  IN  WRITING,  UNDER  OATH,  AND  IN  THE  FORM
 PRESCRIBED  BY  THE SUPERINTENDENT AND SHALL CONTAIN SUCH INFORMATION AS
 THE SUPERINTENDENT MAY REQUIRE BY REGULATION. THE APPLICATION SHALL  SET
 FORTH ALL OF THE LOCATIONS AT WHICH THE APPLICANT SEEKS TO CONDUCT BUSI-
 NESS  HEREUNDER.    AT  THE  TIME OF MAKING THE APPLICATION FOR A MASTER
 LICENSE, AN EXISTING LICENSEE UNDER THIS ARTICLE SHALL PAY TO THE SUPER-
 INTENDENT THE SUM  OF  TWO  HUNDRED  FIFTY  DOLLARS  FOR  EACH  PROPOSED
 LOCATION  AS  A FEE FOR INVESTIGATING THE APPLICATION. AN APPLICANT THAT
 DOES NOT CURRENTLY HOLD A LICENSE UNDER THIS  ARTICLE  AT  THE  TIME  OF
 APPLICATION  SHALL  PAY  TO  THE  SUPERINTENDENT  AN  APPLICATION FEE AS
 PROVIDED IN THIS CHAPTER FOR INITIAL APPLICATIONS. Any licensee request-
 ing a change of address, shall at the time of making such  request,  pay
 to the superintendent a fee as prescribed pursuant to section eighteen-a
 of  this  chapter  for investigating the new address; provided, however,
 that the superintendent may, in his or her discretion, waive such inves-
 tigation fee if warranted, and provided further, that no  fee  shall  be
 payable for the relocation of a limited station.
   4.  Every  applicant  shall  prove, in form satisfactory to the super-
 intendent that he or it has available for the operation  of  such  busi-
 ness, for each location and for each [mobile unit] LIMITED STATION spec-
 ified  in  the  application,  liquid  assets  of  at  least ten thousand
 dollars, and every licensee shall continuously maintain for  the  opera-
 tion  of  such  business  for  each  location and for each [mobile unit]
 LIMITED STATION liquid assets of at least ten thousand dollars. Notwith-
 standing the foregoing provisions of this subdivision,  the  superinten-
 dent,  upon  application  by  an applicant and for good cause shown, may
 permit a reduction from ten thousand dollars to not less than five thou-
 sand dollars of minimum liquid assets required for each location.
   § 6. Section 369 of the banking law, as amended by chapter 151 of  the
 laws  of  1945,  subdivision  1 as amended by chapter 233 of the laws of
 2005, subdivisions 4 and 5 as amended by chapter  132  of  the  laws  of
 1969, subdivision 6 as amended by chapter 164 of the laws of 2003, para-
 graph (b) of subdivision 6 as amended by section 6 of part LL of chapter
 56 of the laws of 2010, and subdivision 7 as added by chapter 485 of the
 laws of 1947, is amended to read as follows:

 A. 672                              4
 
   § 369. Conditions precedent to issuing license; issuance and filing of
 license;  posting  license. 1. If the superintendent shall find that the
 financial responsibility, experience, character, and general fitness  of
 the applicant, and of the members thereof if the applicant be a co-part-
 nership [or], association OR LIMITED LIABILITY COMPANY, and of the offi-
 cers  and  directors thereof if the applicant be a corporation, are such
 as to command the confidence of the community and to warrant belief that
 the business will be operated honestly, fairly, and  efficiently  within
 the  purposes of this article, and if the superintendent shall find that
 the granting of such application will promote the convenience and advan-
 tage of the area in which such business is to be conducted, and  if  the
 superintendent shall find that the applicant has available for the oper-
 ation  of  such  business  for  each location and for each [mobile unit]
 LIMITED STATION specified in the application liquid assets of  at  least
 ten  thousand  dollars,  the  superintendent  shall  thereupon execute a
 MASTER license AND IF APPLICABLE ONE OR MORE  SUPPLEMENTAL  LICENSES  in
 duplicate  to  permit  the  [cashing of checks, drafts and money orders]
 DELIVERY OF FINANCIAL SERVICES in accordance with the provisions of this
 article at the location OR LOCATIONS or in the area OR  AREAS  specified
 in such application. In finding whether the application will promote the
 convenience and advantage to the public, the superintendent shall deter-
 mine  whether  there  is  a  community  need  for  a new licensee in the
 proposed area OR AREAS to be served. No license shall be  issued  to  an
 applicant  for  a  license, at a location to be licensed which is closer
 than one thousand five hundred eighty-four feet (three-tenths of a mile)
 from an existing licensee, except  with  the  written  consent  of  such
 existing  licensee  or  pursuant  to  subdivision three of section three
 hundred seventy of this article, subject to any restriction or condition
 as the superintendent may promulgate by regulation;  provided,  however,
 the  superintendent  may permit a location to be licensed that is closer
 than three-tenths of a mile from  an  existing  licensee  provided  such
 applicant  engages in the cashing of checks, drafts or money orders only
 for payees of such checks, drafts or money orders that  are  other  than
 natural  persons  at  the location to be licensed and such applicant was
 engaged in the cashing of such checks, drafts or money orders for payees
 that are other than natural persons at such location on  or  before  the
 fourteenth  day  of  July,  two thousand four, and provided further that
 upon licensing any such location by the superintendent, such license  as
 it  pertains solely to such location shall not be affected thereafter by
 any change of control of such license pursuant to section three  hundred
 seventy-a  of  this article, provided that the licensee continues there-
 after to engage at that location in the cashing  of  checks,  drafts  or
 money  orders  only  for  payees that are other than natural persons and
 provided further that such license shall bear a legend stating that such
 location is restricted to the cashing of checks, drafts or money  orders
 only for payees that are other than natural persons. The three-tenths of
 a mile distance requirement as set forth in this section shall not apply
 in cases where the existing licensee is a restricted location as author-
 ized  in  the preceding sentence, or is any other licensed location that
 engages solely in the cashing of checks, drafts or money orders only for
 payees that are  other  than  natural  persons.  For  purposes  of  this
 section,  such  distance  shall be measured on a straight line along the
 street between the nearest point of the store fronts of the check  cash-
 ing facilities. The primary business of the licensee, at the location to
 be licensed, shall be financial services. The superintendent shall tran-
 smit  one  copy of such license to the applicant and file another in the

 A. 672                              5
 
 office of the department. Notwithstanding the  foregoing  provisions  of
 this  subdivision,  the superintendent, upon application by an applicant
 and for good cause shown, may  permit  a  reduction  from  ten  thousand
 dollars  to not less than five thousand dollars of minimum liquid assets
 required for each location.
   2. Such license shall state the name  of  the  licensee;  and  if  the
 licensee  is  a  co-partnership  [or], association, OR LIMITED LIABILITY
 COMPANY, the names of the members thereof; and  if  the  licensee  is  a
 corporation, the date of its incorporation; and if the business is to be
 conducted  at  a specific address, the address at which such business is
 to be conducted; and if the business is to be conducted through the  use
 of  a  [mobile  unit]  LIMITED  STATION, the New York state registration
 number or other identification of such [mobile unit] LIMITED STATION and
 the area in which such [mobile unit] LIMITED STATION is authorized to do
 business.
   3. [Such license] ALL LICENSES ISSUED BY THE SUPERINTENDENT  shall  be
 kept  conspicuously  posted in the place of business of the licensee or,
 in the case of a [mobile unit] LIMITED STATION, upon such [mobile  unit]
 LIMITED STATION.  Such license shall not be transferable or assignable.
   4.  Such  license  shall  remain  in full force and effect until it is
 surrendered by the licensee or revoked or suspended as provided in  this
 article.  IN THE CASE OF A CHANGE OF CONTROL OF A LOCATION OR A BUSINESS
 LICENSED HEREUNDER, THE LICENSEE APPROVED TO  ACQUIRE  THE  BUSINESS  OR
 LOCATION  MAY  UTILIZE  A  TRUE COPY OF THE EXISTING LICENSE PENDING THE
 ISSUANCE OF A NEW LICENSE BY THE SUPERINTENDENT.
   5. If the superintendent shall find that the applicant fails  to  meet
 any  of  the conditions set forth in subdivision one of this section, he
 OR SHE shall not issue such license, and he  OR  SHE  shall  notify  the
 applicant  of the denial.  If an application is denied or withdrawn, the
 superintendent shall retain the investigation fee to cover the costs  of
 investigating  the  application and return the license fee to the appli-
 cant.
   6. The superintendent may refuse to issue a license pursuant  to  this
 article if he OR SHE shall find that the applicant, or any person who is
 a director, officer, partner, agent, employee or substantial stockholder
 of  the applicant, (a) has been convicted of a crime in any jurisdiction
 or (b) is associating or consorting with any person who has, or  persons
 who  have,  been  convicted  of a crime or crimes in any jurisdiction or
 jurisdictions; provided, however,  that  the  superintendent  shall  not
 issue  such a license if he OR SHE shall find that the applicant, or any
 person who is a director, officer, partner, agent, employee or  substan-
 tial stockholder of the applicant, has been convicted of a felony in any
 jurisdiction  or of a crime which, if committed within this state, would
 constitute a felony under the laws thereof. For  the  purposes  of  this
 article,  a  person shall be deemed to have been convicted of a crime if
 such person shall have pleaded guilty to a charge thereof before a court
 or magistrate, or shall have been found guilty thereof by  the  decision
 or  judgment of a court or magistrate or by the verdict of a jury, irre-
 spective of the pronouncement of sentence  or  the  suspension  thereof,
 unless such plea of guilty, or such decision, judgment or verdict, shall
 have  been set aside, reversed or otherwise abrogated by lawful judicial
 process or unless the person convicted of the crime shall have  received
 a  pardon therefor from the president of the United States or the gover-
 nor  or  other  pardoning  authority  in  the  jurisdiction  where   the
 conviction  was had, or shall have received a certificate of relief from
 disabilities or a certificate of good conduct pursuant to article  twen-

 A. 672                              6
 
 ty-three of the correction law to remove the disability under this arti-
 cle  because  of such conviction. The term "substantial stockholder," as
 used in this subdivision, shall be deemed to refer to a person owning or
 controlling ten per centum or more of the total outstanding stock of the
 corporation  in which such person is a stockholder. In making a determi-
 nation pursuant to this subdivision, the  superintendent  shall  require
 fingerprinting of the applicant. Such fingerprints shall be submitted to
 the  division  of criminal justice services for a state criminal history
 record check, as defined in subdivision one of  section  three  thousand
 thirty-five  of  the  education law, and may be submitted to the federal
 bureau of investigation for a national criminal history record check.
   7. No license pursuant to this article shall be issued to  any  appli-
 cant  to  do  business  at the place specified in the application as the
 place where the business is to be conducted if, within the twelve months
 preceding such application, a license to engage in business pursuant  to
 this article at such place shall have been revoked.
   §  7. Section 370 of the banking law, as amended by chapter 151 of the
 laws of 1945, subdivision 2 as amended by section 38 of part O of  chap-
 ter  59  of the laws of 2006 and subdivision 3 as amended by chapter 703
 of the laws of 2006, is amended to read as follows:
   § 370. Restrictions as to place or area of doing business;  establish-
 ment of stations; change of location. 1. No more than one place of busi-
 ness  or one [mobile unit] LIMITED STATION shall be maintained under the
 same license; provided, however, that  more  than  one  license  may  be
 issued to the same licensee [upon compliance with the provisions of this
 article  for each new license] AND IF THE SUPERINTENDENT DETERMINES THAT
 AN EXISTING LICENSEE IS IN GOOD STANDING  AND  IN  COMPLIANCE  WITH  THE
 PROVISIONS  OF  THIS  ARTICLE,  A SUBSEQUENT APPLICATION FOR A SECOND OR
 MULTIPLE SUPPLEMENTAL LICENSES AT  DIFFERENT,  SEPARATE  AND  ADDITIONAL
 LOCATIONS  SHALL BE EXPEDITED BY THE SUPERINTENDENT PROVIDED THE MINIMUM
 LIQUIDITY REQUIREMENTS AND COMMUNITY NEED CRITERIA SET FORTH IN  SECTION
 THREE  HUNDRED  SIXTY-NINE OF THIS ARTICLE HAVE BEEN DEMONSTRATED IN THE
 APPLICATION FOR THE ADDITIONAL LOCATION OR LOCATIONS.
   2. Any licensed [casher of checks]  FINANCIAL  SERVICES  PROVIDER  may
 open  and  maintain, within this state, one or more limited stations for
 the purpose of cashing checks, drafts or money orders for the particular
 group or groups specified in the license authorizing each such  station.
 Such  stations  shall  be licensed pursuant to and be subject to all the
 provisions of this chapter applicable to  licensed  cashers  of  checks,
 except that (a) [such station shall not be subject to the distance limi-
 tation  set forth in subdivision one of section three hundred sixty-nine
 of this article, (b)] the fee for investigating the  application  for  a
 station  shall  be  as prescribed pursuant to section eighteen-a of this
 chapter, and [(c)] (B) where such a station is  at  the  premises  of  a
 specified  employer  for the purpose of cashing checks, drafts and money
 orders for the employees of such employer,  the  fees  and  charges  for
 cashing  such checks, drafts or money orders shall not be subject to the
 limitations of subdivision one of section three hundred  seventy-two  of
 this article if such fees and charges are paid by such employer.
   3. A licensee may make a written application to the superintendent for
 leave  to  change  his  or  her  place  of business, or in the case of a
 [mobile unit] LIMITED STATION, the area in which such unit is authorized
 to be operated, stating the reasons for such proposed change AND IN  THE
 CASE  WHERE  THE APPLICANT CURRENTLY HOLDS A MASTER LICENSE TO OPERATE A
 BUSINESS  ESTABLISHED  UNDER  THIS  ARTICLE,  THE  SUPERINTENDENT  SHALL
 STREAMLINE AND REDUCE THE INFORMATION REQUIRED FROM SUCH APPLICANT. Such

 A. 672                              7
 
 application  may  be  approved  for relocation from a site within three-
 tenths of a mile of another licensee to another site within three-tenths
 of a mile of such other licensee provided that such new site is  farther
 from such existing licensee than the site from which permission to relo-
 cate  is  sought. Only in situations in which a licensee seeks to change
 its place of business due to  extraordinary  circumstances,  as  may  be
 determined by the superintendent pursuant to regulations, may the super-
 intendent,  in  his or her discretion, determine that an application may
 be approved for relocation from a site within three-tenths of a mile  of
 another licensee to a new site which is closer to such existing licensee
 than the site from which permission to relocate is sought. Notwithstand-
 ing  any  other  provision  of this subdivision, a licensee may relocate
 from any location to a location that is within three-tenths  of  a  mile
 from another licensee with the written consent of the other licensee. If
 the superintendent approves such application he or she shall issue a new
 license  in duplicate in accordance with the provisions of section three
 hundred sixty-nine of this article, stating the  new  location  of  such
 licensee  or,  in  the  case of a [mobile unit] LIMITED STATION, the new
 area in which such [mobile unit] LIMITED STATION may be operated.
   § 8. Section 370-a of the banking law, as added by chapter 142 of  the
 laws  of 1992, subdivision 1 as amended by section 39 of part O of chap-
 ter 59 of the laws of 2006, is amended to read as follows:
   § 370-a. Changes in control. 1. It shall be unlawful except  with  the
 prior  approval  of  the superintendent for any action to be taken which
 results in a change of control of the business of a licensee.  Prior  to
 any  change  of control, the person desirous of acquiring control of the
 business of a licensee, IF SUCH PERSON IS NOT ALREADY A  LICENSEE  UNDER
 THIS  ARTICLE,  shall make written application to the superintendent and
 pay an investigation fee as prescribed pursuant to section eighteen-a of
 this chapter to the superintendent. The application shall  contain  such
 information  as the superintendent, by rule or regulation, may prescribe
 as necessary or appropriate, AND IN THE CASE WHERE THE ACQUIRING  PERSON
 CURRENTLY HOLDS A MASTER LICENSE TO OPERATE A BUSINESS ESTABLISHED UNDER
 THIS  ARTICLE,  AND IN THE CASE OF A LIMITED STATION LICENSE, THE SUPER-
 INTENDENT SHALL STREAMLINE AND REDUCE THE INFORMATION REQUIRED FROM SUCH
 APPLICANT, for the purpose  of  making  the  determination  required  by
 subdivision two of this section.
   2.  The superintendent shall approve or disapprove the proposed change
 of control of a licensee in accordance with the provisions  of  subdivi-
 sions  one  and six of section three hundred sixty-nine of this article.
 The superintendent shall approve or disapprove the application in  writ-
 ing  within ninety days after the date the application is filed with the
 superintendent.
   3. For a period of six months from the date of  qualification  thereof
 and  for  such  additional  period  of  time  as  the superintendent may
 prescribe, in writing, the provisions of subdivisions  one  and  two  of
 this  section  shall  not apply to a transfer of control by operation of
 law to the legal representative, as hereinafter defined, of one who  has
 control  of  a  licensee.  Thereafter,  such  legal representative shall
 comply with the provisions of subdivisions one and two of this  section.
 The  provisions  of  subdivisions  one  and two of this section shall be
 applicable to an application made under such section by a  legal  repre-
 sentative.
   The  term  "legal  representative",  for the purposes of this section,
 shall mean one duly appointed by a court of  competent  jurisdiction  to
 act  as  executor,  administrator,  trustee,  committee,  conservator or

 A. 672                              8
 
 receiver, including one who succeeds  a  legal  representative  and  one
 acting   in  an  ancillary  capacity  thereto  in  accordance  with  the
 provisions of such court appointment.
   4. As used in this section: (a) the term "person" includes an individ-
 ual,  partnership,  corporation, association, LIMITED LIABILITY COMPANY,
 or any  other  organization,  and  (b)  the  term  "control"  means  the
 possession,  directly or indirectly, of the power to direct or cause the
 direction of the management and policies of a licensee, whether  through
 the  ownership of voting stock of such licensee, the ownership of voting
 stock of any person which possesses such  power  or  otherwise.  Control
 shall  be presumed to exist if any person, directly or indirectly, owns,
 controls or holds with power to vote ten  per  centum  or  more  of  the
 voting  stock  of  any licensee or of any person which owns, controls or
 holds with power to vote ten per centum or more of the voting  stock  of
 any licensee, but no person shall be deemed to control a licensee solely
 by  reason  of  being an officer or director of such licensee or person.
 The superintendent may in his OR HER discretion, upon the application of
 a licensee or any person who, directly or indirectly, owns, controls  or
 holds  with power to vote or seeks to own, control or hold with power to
 vote any voting stock of such licensee, determine  whether  or  not  the
 ownership,  control or holding of such voting stock constitutes or would
 constitute control of such licensee for purposes of this section.
   § 9. Section 371 of the banking law, as added by chapter  151  of  the
 laws of 1945, is amended to read as follows:
   § 371.  Regulations.  The  superintendent  is  hereby  authorized  and
 empowered to make such rules and regulations, and such specific rulings,
 demands, and findings as he OR SHE may deem  necessary  for  the  proper
 conduct  of  the  business  authorized  and  licensed  under and for the
 enforcement of this article, in addition  hereto  and  not  inconsistent
 herewith.
   § 10. Section 372 of the banking law, as amended by chapter 151 of the
 laws  of  1945,  the  section  heading  and subdivision 1 as amended and
 subdivision 7 as added by chapter 432 of the laws of 2004,  subdivisions
 2,  3,  and 4 as added and subdivisions 5 and 6 as renumbered by chapter
 263 of the laws of 1983, and subdivision 6 as added by  chapter  485  of
 the laws of 1947, is amended to read as follows:
   § 372. Fees and charges; posting schedule; records and reports. 1. The
 superintendent  shall,  by  regulation, establish the maximum fees which
 may be charged by licensees for cashing a check, draft, or money  order.
 No  licensee shall charge or collect any sum for cashing a check, draft,
 or money order in excess of that  established  by  the  superintendent's
 regulations;  provided,  however, that no maximum fee shall apply to the
 charging of fees by licensees for the cashing of checks, drafts or money
 orders for payees of such checks, drafts or money orders that are  other
 than natural persons. THE LICENSEE SHALL PAY TO EVERY CUSTOMER TENDERING
 ANY  CHECK, DRAFT OR MONEY ORDER TO BE CASHED, THE ENTIRE FACE AMOUNT OF
 SUCH INSTRUMENT, LESS ANY CHARGES PERMITTED BY  THE  SUPERINTENDENT,  IN
 SUCH  FORM  AND BY SUCH MEANS AS AGREED UPON BY THE CUSTOMER ON THE SAME
 DATE UPON WHICH SUCH INSTRUMENT IS PRESENTED.
   2. The schedule of fees and charges permitted under this section shall
 be conspicuously and continuously posted in every  location  and  [mobil
 unit]  LIMITED  STATION licensed under this article. WHENEVER A LICENSEE
 HEREUNDER IS AUTHORIZED UNDER THIS  ARTICLE  TO  OFFER  OTHER  FINANCIAL
 SERVICES,  THE  POSTING AND SIGNAGE REQUIREMENTS THEREUNDER SHALL SUPER-
 SEDE OTHER SIGNAGE REQUIREMENTS UNDER THIS ARTICLE.

 A. 672                              9
 
   3. No change in fees shall become effective earlier than  thirty  days
 after the superintendent shall notify the majority leader of the senate,
 the  speaker  of  the  assembly, and the chairmen of both the senate and
 assembly committees on banks of his OR HER intention to change fees.
   4.  The fees in effect immediately prior to the effective date of this
 subdivision shall continue  to  be  the  maximum  allowable  fees  until
 revised by the superintendent's regulations.
   5.  Each  licensee  shall  keep  and  use  in its business such books,
 accounts, and records as the superintendent may require  to  carry  into
 effect the provisions of this article and the rules and regulations made
 by  the  superintendent  hereunder.  Every  licensee shall preserve such
 books, accounts and records for at least two years.  A LICENSEE SHALL BE
 DEEMED TO BE IN COMPLIANCE WITH THIS REQUIREMENT IF THE  LICENSEE  MAIN-
 TAINS  ALL  INFORMATION  RELATED  TO THE FINANCIAL SERVICES TRANSACTIONS
 CONDUCTED BY SAID LICENSEE ACCORDING TO THE PROVISIONS OF SECTION  THIR-
 TY-SIX-B OF THIS CHAPTER.
   6.  Before  a licensee shall deposit with any banking organization, or
 with any organization engaged in the business of banking, a check, draft
 or money order cashed by such licensee, the same must be  endorsed  with
 the  actual  name  under  which such licensee is doing business and must
 have the words "licensed [casher of checks] FINANCIAL SERVICES PROVIDER"
 legibly written or stamped immediately after or below such name.
   7. Every licensee shall submit to the superintendent, or  such  person
 as the superintendent may designate, such suspicious activity reports or
 currency  transaction reports as are required to be submitted to federal
 authorities pursuant to provisions of the Bank Secrecy  Act  (subchapter
 11, chapter 53, title 31, United States code) and regulations and admin-
 istrative orders related thereto, as amended, within the periods of time
 as required by such act and regulations. A licensee may submit a copy of
 any such report to the superintendent, or such person as the superinten-
 dent  may  designate,  that  is filed with such federal authorities. The
 superintendent may adopt such regulations  or  require  such  additional
 reports as he or she deems necessary to insure the effective enforcement
 of this subdivision.
   § 11. Section 372-a of the banking law, as added by chapter 432 of the
 laws of 2004, is amended to read as follows:
   §  372-a.  Superintendent authorized to examine. 1. For the purpose of
 discovering violations of this article or securing information  lawfully
 required  in  this  section,  the superintendent may at any time, and as
 often as may be determined, either personally or by a person duly desig-
 nated by the superintendent,  investigate  the  [cashing  of  checks  by
 licensees] BUSINESS PRACTICES OF A LICENSEE RENDERING FINANCIAL SERVICES
 AUTHORIZED BY THIS ARTICLE and examine the books, accounts, records, and
 files used therein of every licensee.
   2. For the purpose established in subdivision one of this section, the
 superintendent and his or her duly designated representatives shall have
 free  access  to  the  offices  and places of business, books, accounts,
 papers, records, files, safes and vaults  of  all  such  licensees.  The
 superintendent  shall have authority to require the attendance of and to
 examine under oath all persons whose testimony may be required  relative
 to such cashing of checks or such business.
   § 12. Subdivisions 1 and 2 of section 373 of the banking law, subdivi-
 sion  1  as amended by chapter 432 of the laws of 2004 and subdivision 2
 as amended by chapter 132 of the laws of 1969, are amended  to  read  as
 follows:

 A. 672                             10
 
   1.  No licensee shall engage in the business of making loans of money,
 credit, goods or things or discounting  of  notes,  bills  of  exchange,
 checks, or other evidences of debt pursuant to the provisions of article
 nine  of  this  chapter, nor shall a loan business or the negotiation of
 loans  or  the  discounting of notes, bills of exchange, checks or other
 evidences of debt be conducted on the same premises where  the  licensee
 is  conducting  business  pursuant  to  the  provisions of this article.
 NOTWITHSTANDING ANY OTHER PROVISION OF THIS SUBDIVISION, A LICENSEE  MAY
 ENGAGE  IN THE BUSINESS OF MAKING BUSINESS AND COMMERCIAL LOANS PURSUANT
 TO THIS ARTICLE PROVIDED THE LICENSEE HAS FIRST OBTAINED A LICENSE  FROM
 THE  SUPERINTENDENT  PURSUANT TO ARTICLE NINE OF THIS CHAPTER; PROVIDED,
 HOWEVER, NO LICENSEE SHALL MAKE ANY LOANS TO INDIVIDUALS  FOR  PERSONAL,
 FAMILY,  HOUSEHOLD OR INVESTMENT PURPOSES AND IN THE CASE OF AN APPLICA-
 TION FOR A LOAN FROM A BUSINESS WHICH IS A SOLE PROPRIETORSHIP OR  PART-
 NERSHIP,  NO LOAN MAY BE EXTENDED EXCEPT UPON THE WRITTEN ASSURANCE FROM
 THE BORROWER IN A NOTARIZED DOCUMENT THAT THE PROCEEDS OF SUCH LOAN WILL
 BE USED SOLELY FOR BUSINESS OR COMMERCIAL PURPOSES, AND UPON THE REASON-
 ABLE DETERMINATION BY THE LENDER THAT THE LOAN IS SOLELY FOR BUSINESS OR
 COMMERCIAL PURPOSES, INCLUDING BUT NOT LIMITED TO RECEIPT OF  DOCUMENTA-
 TION  THAT  THE BORROWER IS OPERATING AS A BONA FIDE BUSINESS OPERATION.
 IN ORDER TO ASSURE THAT THE BUSINESS  AND  COMMERCIAL  LOANS  AUTHORIZED
 UNDER  THIS  ARTICLE  AND  ARTICLE NINE OF THIS CHAPTER ARE PROPERLY AND
 SOLELY MADE FOR COMMERCIAL AND  BUSINESS  PURPOSES,  THE  SUPERINTENDENT
 SHALL DEVELOP AND PROMULGATE RULES AND REGULATIONS REQUIRING SUCH APPLI-
 CANTS  TO SUBMIT THE UNDERWRITING CRITERIA AND PROCESSES AND INFORMATION
 VERIFICATION METHODOLOGY THE LICENSEE WILL UTILIZE TO EVALUATE THE ABIL-
 ITY OF BORROWERS TO REPAY THE BUSINESS OR COMMERCIAL  LOANS  AND,  ADDI-
 TIONALLY THE PROCEDURES SUCH LICENSEE WILL UNDERTAKE TO ASSURE THAT SOLE
 PROPRIETORSHIPS  OR  PARTNERSHIPS BUSINESS OR COMMERCIAL LOANS CANNOT BE
 DIVERTED BY THE BORROWER FOR PERSONAL, HOUSEHOLD, FAMILY  OR  INVESTMENT
 PURPOSES.  Except as otherwise provided by regulation of the superinten-
 dent, all checks, drafts and money orders  shall  be  deposited  in  the
 licensee's  bank account not later than the first business day following
 the day on which they were cashed. No licensee shall at any time cash or
 advance any moneys on a post-dated check or draft or engage in the busi-
 ness  of  transmitting  money  or  receiving  money  for   transmission;
 provided,  however,  that  a  licensee  may cash a check [payable on the
 first banking business day following the date of  cashing  (a)  if  such
 check is drawn by the United States, the state of New York, or any poli-
 tical  subdivision  of  the  state  of  New  York, or by any department,
 bureau, agency, authority, instrumentality or  officer,  acting  in  his
 official  capacity,  of the United States or of the state of New York or
 of any political subdivision of the state of New York, or  (b)  if  such
 check  is  a  payroll  check  drawn  by  an employer to the order of its
 employee in payment for services performed  by  such  employee]  WITHOUT
 REGARD TO THE DATE IMPRINTED ON THE CHECK AS LONG AS THE CHECK IS DEPOS-
 ITED  IN  THE  LICENSEE'S BANK ACCOUNT NOT LATER THAN THE FIRST BUSINESS
 DAY FOLLOWING THE DAY ON WHICH IT WAS CASHED. No licensee shall cash any
 check, draft or money order if the face amount for which it is drawn  is
 in  excess of [fifteen] TWENTY-FIVE thousand dollars; provided, however,
 that this restriction shall not apply to the cashing of  checks,  drafts
 or  money  orders  drawn  by the United States, any state thereof or any
 political subdivision of any such state, or by any  department,  bureau,
 agency,  authority,  instrumentality  or officer, acting in his official
 capacity, of the United States,  any  state  thereof  or  any  political
 subdivision  of  any  such  state, or any banking institution, or to any

 A. 672                             11
 
 check or draft drawn by any insurance  company,  any  broker  or  dealer
 registered  with the securities and exchange commission, or any attorney
 for the settlement of claims, OR TO ANY CHECK ISSUED AS AN ADVANCE TO  A
 LAWSUIT OR AS PART OF A STRUCTURED SETTLEMENT, or to any check which has
 been certified by the banking institution on which it has been drawn, OR
 IF  SUCH CHECK IS DRAWN ON A BONA FIDE WORKERS' COMPENSATION FUND ISSUED
 BY A THIRD-PARTY PAYOR, OR IF SUCH CHECK IS DRAWN BY AN EMPLOYER FROM  A
 PENSION  OR  PROFIT  SHARING  FUND, OR IF SUCH CHECK IS DRAWN BY A UNION
 FROM A PENSION OR BENEFIT FUND; provided further, however, that any such
 restriction upon the maximum face amount that may be cashed by a  licen-
 see  shall not apply to the cashing of checks, drafts or money orders by
 licensees for payees of such checks, drafts or  money  orders  that  are
 other  than  natural persons. For purposes of this subdivision, "banking
 institution" means any bank, trust company, savings  bank,  savings  and
 loan  association  or  credit  union which is incorporated, chartered or
 organized under the laws of this state or any other state or the  United
 States.
   2.  The  superintendent  may suspend or revoke any license or licenses
 issued pursuant to this article if, after notice and a  hearing,  he  OR
 SHE shall find that the licensee (a) has committed any fraud, engaged in
 any  dishonest  activities  or  made  any  misrepresentation; or (b) has
 violated any provisions of the banking  law  or  any  regulation  issued
 pursuant  thereto, or has violated any other law in the course of its or
 his dealings as a [licensed casher of checks] LICENSEE DELIVERING  CHECK
 CASHING  AND  RELATED  FINANCIAL SERVICES TO THE PUBLIC PURSUANT TO THIS
 ARTICLE; or (c) has made a false statement in the application  for  such
 license  or  failed  to give a true reply to a question in such applica-
 tion; or (d) has demonstrated his or its incompetency or  untrustworthi-
 ness  to act as a [licensed casher of checks] LICENSEE DELIVERING FINAN-
 CIAL SERVICES TO THE PUBLIC PURSUANT TO THIS  ARTICLE;  or  (e)  is  not
 doing  sufficient  business  pursuant  to  this  article  to justify the
 continuance of the license, or if he OR SHE shall find that  any  ground
 or grounds exist which would require or warrant the refusal of an appli-
 cation  for the issuance of the license if such an application were then
 before him OR HER.  Such a hearing shall be held in the manner and  upon
 such  notice  as  may  be  prescribed  by the superintendent. Pending an
 investigation or a hearing for  the  suspension  or  revocation  of  any
 license  or licenses issued pursuant to this article, the superintendent
 may temporarily suspend such license or licenses for  a  period  not  to
 exceed  ninety  days, provided the superintendent shall find that such a
 temporary suspension is in the public interest.
   § 13. The banking law is amended by adding a new section 373-a to read
 as follows:
   § 373-A. REPORT OF LENDING ACTIVITY. 1. ANY LICENSEE WHO ISSUES  BUSI-
 NESS  OR  COMMERCIAL  LOANS PURSUANT TO THE AUTHORITY GRANTED IN SECTION
 THREE HUNDRED SEVENTY-THREE OF THIS ARTICLE SHALL SUBMIT INFORMATION  TO
 THE  SUPERINTENDENT ANNUALLY BEGINNING JANUARY FIRST, TWO THOUSAND NINE-
 TEEN REGARDING THE FOLLOWING:
   (A) THE NUMBER OF LOANS ISSUED THE PREVIOUS YEAR;
   (B) THE DEFAULT RATE, IF ANY, WITH RESPECT TO SUCH LOANS;
   (C) THE AVERAGE COST OF SUCH LOANS, INCLUDING FEES AND INTEREST  RATES
 CHARGED; AND
   (D) SUCH OTHER INFORMATION AS THE SUPERINTENDENT DEEMS RELEVANT.
   2. THE SUPERINTENDENT SHALL THEREAFTER ISSUE A REPORT TO THE GOVERNOR,
 TEMPORARY  PRESIDENT  OF THE SENATE AND SPEAKER OF THE ASSEMBLY ON APRIL
 FIRST, TWO THOUSAND  NINETEEN  AND  ANNUALLY  THEREAFTER  COMPILING  AND

 A. 672                             12
 
 ANALYZING  THE  INFORMATION RECEIVED PURSUANT TO SUBDIVISION ONE OF THIS
 SECTION.
   §  14.  Subdivision 10 of section 36 of the banking law, as amended by
 chapter 182 of the laws of 2011, is amended to read as follows:
   10. All reports of examinations and investigations, correspondence and
 memoranda concerning or arising out of  such  examination  and  investi-
 gations,  including any duly authenticated copy or copies thereof in the
 possession of any banking organization,  bank  holding  company  or  any
 subsidiary  thereof  (as  such terms "bank holding company" and "subsid-
 iary" are defined in article three-A of this chapter),  any  corporation
 or  any  other  entity affiliated with a banking organization within the
 meaning of subdivision six of this section and any  non-banking  subsid-
 iary  of  a  corporation  or any other entity which is an affiliate of a
 banking organization within the meaning of  subdivision  six-a  of  this
 section,  foreign banking corporation, licensed lender, licensed [casher
 of checks] FINANCIAL SERVICES PROVIDER, licensed mortgage banker, regis-
 tered mortgage broker, licensed mortgage loan originator, licensed sales
 finance company, registered mortgage loan servicer,  licensed  insurance
 premium  finance  agency, licensed transmitter of money, licensed budget
 planner, any other person or entity subject to  supervision  under  this
 chapter,  or the department, shall be confidential communications, shall
 not be subject to subpoena and shall not be made public unless,  in  the
 judgment  of  the  superintendent,  the  ends  of justice and the public
 advantage will be subserved by the publication thereof, in  which  event
 the superintendent may publish or authorize the publication of a copy of
 any  such  report  or  any  part thereof in such manner as may be deemed
 proper or unless such laws specifically authorize such  disclosure.  For
 the  purposes of this subdivision, "reports of examinations and investi-
 gations, and any correspondence and memoranda concerning or arising  out
 of such examinations and investigations", includes any such materials of
 a  bank,  insurance  or  securities regulatory agency or any unit of the
 federal government or that of this state any other state or that of  any
 foreign  government  which are considered confidential by such agency or
 unit and which are in the possession of  the  department  or  which  are
 otherwise confidential materials that have been shared by the department
 with any such agency or unit and are in the possession of such agency or
 unit.
   §  15.  Subdivisions  3  and  5  of  section 37 of the banking law, as
 amended by chapter 360 of the laws of  1984,  are  amended  to  read  as
 follows:
   3. In addition to any reports expressly required by this chapter to be
 made,  the superintendent may require any banking organization, licensed
 lender,  licensed  [casher  of  checks]  FINANCIAL  SERVICES   PROVIDER,
 licensed  mortgage  banker,  foreign banking corporation licensed by the
 superintendent to do business in this state, bank  holding  company  and
 any  non-banking  subsidiary thereof, corporate affiliate of a corporate
 banking organization within the meaning of subdivision  six  of  section
 thirty-six  of  this  article and any non-banking subsidiary of a corpo-
 ration which is an affiliate of a corporate banking organization  within
 the  meaning  of subdivision six-a of section thirty-six of this article
 to make special reports to him OR HER at such times as  he  OR  SHE  may
 prescribe.
   5.  The  superintendent  may  extend at his discretion the time within
 which a banking organization, foreign banking  corporation  licensed  by
 the superintendent to do business in this state, bank holding company or
 any  non-banking  subsidiary thereof, licensed [casher of checks] FINAN-

 A. 672                             13
 
 CIAL SERVICES PROVIDER, licensed  mortgage  banker,  private  banker  or
 licensed  lender  is  required to make and file any report to the super-
 intendent.
   §  16.  Subdivisions  1,  2, 3 and 5 of section 39 of the banking law,
 subdivisions 1, 2 and 5 as amended by chapter 123 of the  laws  of  2009
 and  subdivision  3  as  amended by chapter 155 of the laws of 2012, are
 amended to read as follows:
   1. To appear and explain an  apparent  violation.  Whenever  it  shall
 appear to the superintendent that any banking organization, bank holding
 company,  registered  mortgage  broker, licensed mortgage banker, regis-
 tered  mortgage  loan  servicer,  licensed  mortgage  loan   originator,
 licensed   lender,   licensed  [casher  of  checks]  FINANCIAL  SERVICES
 PROVIDER, licensed sales finance  company,  licensed  insurance  premium
 finance  agency, licensed transmitter of money, licensed budget planner,
 out-of-state state bank that maintains a branch or branches or represen-
 tative or other offices in this state, or  foreign  banking  corporation
 licensed  by  the  superintendent to do business or maintain a represen-
 tative office in this state has violated any law or  regulation,  he  or
 she may, in his or her discretion, issue an order describing such appar-
 ent  violation  and  requiring  such  banking organization, bank holding
 company, registered mortgage broker, licensed mortgage banker,  licensed
 mortgage  loan  originator, licensed lender, licensed [casher of checks]
 FINANCIAL SERVICES PROVIDER, licensed sales  finance  company,  licensed
 insurance   premium  finance  agency,  licensed  transmitter  of  money,
 licensed budget planner, out-of-state state bank that maintains a branch
 or branches or representative or other offices in this state, or foreign
 banking corporation to appear before him or her, at  a  time  and  place
 fixed  in  said  order,  to  present  an  explanation  of  such apparent
 violation.
   2. To discontinue unauthorized or unsafe and unsound practices.  When-
 ever  it  shall  appear to the superintendent that any banking organiza-
 tion, bank holding company, registered mortgage broker,  licensed  mort-
 gage  banker,  registered mortgage loan servicer, licensed mortgage loan
 originator, licensed  lender,  licensed  [casher  of  checks]  FINANCIAL
 SERVICES  PROVIDER,  licensed  sales finance company, licensed insurance
 premium finance agency, licensed transmitter of money,  licensed  budget
 planner,  out-of-state state bank that maintains a branch or branches or
 representative or other offices in this state, or foreign banking corpo-
 ration licensed by the superintendent to do business in  this  state  is
 conducting  business in an unauthorized or unsafe and unsound manner, he
 or she may, in his or her  discretion,  issue  an  order  directing  the
 discontinuance of such unauthorized or unsafe and unsound practices, and
 fixing a time and place at which such banking organization, bank holding
 company,  registered  mortgage  broker, licensed mortgage banker, regis-
 tered  mortgage  loan  servicer,  licensed  mortgage  loan   originator,
 licensed   lender,   licensed  [casher  of  checks]  FINANCIAL  SERVICES
 PROVIDER, licensed sales finance  company,  licensed  insurance  premium
 finance  agency, licensed transmitter of money, licensed budget planner,
 out-of-state state bank that maintains a branch or branches or represen-
 tative or other offices in this state, or  foreign  banking  corporation
 may  voluntarily  appear before him or her to present any explanation in
 defense of the practices directed in said order to be discontinued.
   3. To make good impairment of capital or  to  ensure  compliance  with
 financial  requirements.  Whenever it shall appear to the superintendent
 that the capital or capital stock  of  any  banking  organization,  bank
 holding  company  or any subsidiary thereof which is organized, licensed

 A. 672                             14
 
 or registered pursuant to this chapter, is impaired,  or  the  financial
 requirements  imposed by subdivision one of section two hundred two-b of
 this chapter or any regulation of the superintendent on  any  branch  or
 agency  of  a  foreign banking corporation or the financial requirements
 imposed by this chapter or any regulation of the superintendent  on  any
 licensed  lender,  registered mortgage broker, licensed mortgage banker,
 licensed [casher of checks] FINANCIAL SERVICES PROVIDER, licensed  sales
 finance  company,  licensed  insurance  premium finance agency, licensed
 transmitter of money, licensed budget planner or private banker are  not
 satisfied,  the  superintendent may, in the superintendent's discretion,
 issue an order directing that such banking  organization,  bank  holding
 company,  branch  or agency of a foreign banking corporation, registered
 mortgage broker, licensed mortgage  banker,  licensed  lender,  licensed
 [casher  of  checks] FINANCIAL SERVICES PROVIDER, licensed sales finance
 company, licensed insurance premium finance agency, licensed transmitter
 of money, licensed budget planner, or  private  banker  make  good  such
 deficiency forthwith or within a time specified in such order.
   5.  To keep books and accounts as prescribed. Whenever it shall appear
 to the superintendent that any banking organization, bank holding compa-
 ny, registered mortgage broker,  licensed  mortgage  banker,  registered
 mortgage  loan  servicer,  licensed  mortgage  loan originator, licensed
 lender,  licensed  [casher  of  checks]  FINANCIAL  SERVICES   PROVIDER,
 licensed sales finance company, licensed insurance premium finance agen-
 cy,  licensed  transmitter  of money, licensed budget planner, agency or
 branch of a foreign banking corporation licensed by  the  superintendent
 to  do  business  in this state, does not keep its books and accounts in
 such manner as to enable him or her to readily ascertain its true condi-
 tion, he or she may, in his or her discretion, issue an order  requiring
 such  banking  organization,  bank  holding company, registered mortgage
 broker, licensed mortgage banker,  registered  mortgage  loan  servicer,
 licensed  mortgage loan originator, licensed lender, licensed [casher of
 checks] FINANCIAL SERVICES PROVIDER,  licensed  sales  finance  company,
 licensed  insurance  premium  finance  agency,  licensed  transmitter of
 money, licensed budget planner, or foreign banking corporation,  or  the
 officers  or agents thereof, or any of them, to open and keep such books
 or accounts as he or she may, in his or her  discretion,  determine  and
 prescribe  for the purpose of keeping accurate and convenient records of
 its transactions and accounts.
   § 17. Subdivisions 1, 2, 3, 4, 5 and 6 of section 42  of  the  banking
 law,  subdivision 1 as amended by chapter 65 of the laws of 1948, subdi-
 visions 2 and 3 as amended by chapter 553 of the laws of 1960,  subdivi-
 sion  4  as amended by chapter 60 of the laws of 1957 and subdivisions 5
 and 6 as amended by chapter 249 of the laws of 1968, are amended to read
 as follows:
   1. The name and the location of the principal office of every proposed
 corporation, private banker, licensed lender  and  licensed  [casher  of
 checks]  FINANCIAL  SERVICES  PROVIDER,  the  organization  certificate,
 private banker's certificate or application for  license  of  which  has
 been filed for examination, and the date of such filing.
   2. The name and location of every licensed lender and licensed [casher
 of  checks]  FINANCIAL SERVICES PROVIDER, and the name, location, amount
 of capital stock or permanent capital and amount  of  surplus  of  every
 corporation  and private banker and the minimum assets required of every
 branch of a foreign banking corporation authorized to commence business,
 and the date of authorization or licensing.

 A. 672                             15
 
   3. The name of every proposed corporation, private banker, branch of a
 foreign banking corporation, licensed lender  and  licensed  [casher  of
 checks]  FINANCIAL SERVICES PROVIDERS to which a certificate of authori-
 zation or a license has been refused and the date of notice of refusal.
   4.  The  name  and  location of every private banker, licensed lender,
 licensed [casher of checks] FINANCIAL SERVICES PROVIDER,  sales  finance
 company and foreign corporation the authorization certificate or license
 of which has been revoked, and the date of such revocation.
   5.  The  name of every banking organization, licensed lender, licensed
 [casher of checks] FINANCIAL SERVICES PROVIDER and  foreign  corporation
 which  has applied for leave to change its place or one of its places of
 business and the places from and to which the change is proposed  to  be
 made; the name of every banking organization which has applied to change
 the designation of its principal office to a branch office and to change
 the  designation  of  one of its branch offices to its principal office,
 and the location of the principal office which is proposed to be  redes-
 ignated as a branch office and of the branch office which is proposed to
 be redesignated as the principal office.
   6.  The  name of every banking organization, licensed lender, licensed
 [casher of checks] FINANCIAL SERVICES PROVIDER and  foreign  corporation
 authorized  to change its place or one of its places of business and the
 date when and the places from and to which the change is  authorized  to
 be made; the name of every banking organization authorized to change the
 designation of its principal office to a branch office and to change the
 designation  of a branch office to its principal office, the location of
 the redesignated principal office and of the redesignated branch office,
 and the date of such change.
   § 18. Paragraph (a) of subdivision 1 of section 44 of the banking law,
 as amended by chapter 155 of the laws of 2012, is  amended  to  read  as
 follows:
   (a) Without limiting any power granted to the superintendent under any
 other provision of this chapter, the superintendent may, in a proceeding
 after  notice  and a hearing, require any safe deposit company, licensed
 lender,  licensed  [casher  of  checks]  FINANCIAL  SERVICES   PROVIDER,
 licensed sales finance company, licensed insurance premium finance agen-
 cy,  licensed transmitter of money, licensed mortgage banker, registered
 mortgage broker, licensed mortgage loan originator, registered  mortgage
 loan  servicer  or  licensed budget planner to pay to the people of this
 state a penalty for  any  violation  of  this  chapter,  any  regulation
 promulgated  thereunder, any final or temporary order issued pursuant to
 section thirty-nine of this article, any condition imposed in writing by
 the superintendent in connection with the grant of  any  application  or
 request, or any written agreement entered into with the superintendent.
   §  19.  This  act  shall  take effect on the one hundred eightieth day
 after it shall have become a law; provided, however, that:
   (a) effective immediately, any  rules  and  regulations  necessary  to
 implement  the  provisions  of  this  act on its effective date shall be
 added, amended and/or repealed on or before such date;
   (b) the amendments to section 373 of the banking law made  by  section
 twelve of this act shall expire and be deemed repealed June 30, 2022;
   (c)  section  373-a of the banking law as added by section thirteen of
 this act shall expire and be deemed repealed June 30, 2022; and
   (d) any contract, instrument, argument  or  other  written  obligation
 entered  into  by  a financial service provider authorized under section
 373 of the banking law prior to June 30, 2022 shall be deemed valid  and
 enforceable after such date.