Imposes a civil penalty of not less than $100 nor more than $500 upon a banking organization which fails or refuses to accept certain checks for deposit; directs department of banking to promulgate rules and regulations necessary for the implementation of this act. / Sponsor: KRUGER Committee: BANKS

Provides that banking institutions in New York State may release customer information in the following manner; (a) to the actual customer or authorized agent, or (b) unless a customer affirmatively and in writing prohibits the release, to a subsidiary or affiliate of the banking institution, or, (c) to any other persons or entities if the customer information intended to be released consists only of customer identification, (e.g. name or address of customer) and/or is recorded in public records; defines the term "customer information" to mean account records and any other information constructed from those records relating to the customer's relationship with the institution. / Sponsor: KRUGER Committee: BANKS

Provides that a bank upon which a negotiable instrument is drawn shall make payment on such negotiable instrument at the time of presentment, provided proper photo identification is submitted by the payee named in such instrument, irrespective of whether the payee maintains an account with such drawee bank; defines "sufficient identification". / Sponsor: KRUGER Committee: BANKS

Provides a definition of the word "timely" for purposes of real property insurance escrow accounts. / Sponsor: SMITH Committee: BANKS

Provides for a financial exploitation prevention outreach, education and training program and fund; authorizes the director of the office of the aging to award grants to qualified agencies to establish local elderly exploitation, outreach, education and training programs; outlines elements of such program. / Sponsor: DIAZ Committee: BANKS

Prohibits a bank or trust company from charging a service charge or requiring a minimum balance for attorney trust or IOLA accounts that are non-interest bearing in nature; defines attorney trust account. / Sponsor: PARKER Committee: BANKS

Regulates the provision of refund anticipation loans by person and entities other than banking institutions; requires that at the time a borrower applies for a refund anticipation loan, a facilitator shall disclose to such borrower certain information relating to fees and interest rates; defines terms. / Sponsor: DIAZ Committee: BANKS

Requires banking institutions to accept the Dominican consular identification card, issued by the consulate general of the Dominican Republic, as a valid form of identification for all banking transactions. / Sponsor: DIAZ Committee: BANKS

Authorizes the banking board to set the maximum rate of interest for credit cards at not to exceed 18% annually; such rate may only exceed 18% if the prime rate exceeds 18% for sixty consecutive days, but in no event shall such new rate be more than one and one quarter percent above the prime rate in effect at the time such rate is set. / Sponsor: SAMPSON Committee: BANKS

Relates to refund anticipation loans; requires that at the time a borrower applies for a refund anticipation loan, a facilitator shall disclose to such borrower certain information; defines terms. / Sponsor: SAVINO Committee: BANKS

Provides for an extension of time to the purchasing period for tenants to purchase a dwelling unit in a cooperative apartment building. / Sponsor: DIAZ Committee: BANKS

Requires notice to renters of safe deposit boxes regarding fees and charges. / Sponsor: SQUADRON Committee: BANKS

Requires ATMs to use both audio and visual system of relaying messages to its customers; provides that this provision would enable those individuals that are visually impaired to access ATMs without the assistance of another person; requires the audio system to convey substantially the same information as the visual; provides for rules and regulations to be promulgated by the superintendent of banks. / Sponsor: DUANE Committee: BANKS

Relates to refinancing of an existing mortgage loan; provides for a separate disclosure which compares monthly payments under the previous mortgage with the combined monthly payments for the new mortgage loan, property tax and insurance. / Sponsor: SMITH Committee: BANKS

Relates to retail instalment contracts and transmitters of money; makes clear that the term "retail instalment obligation" includes an agreement no matter where entered into if it is executed by the buyer in this State and if solicited in person by a salesperson or other person acting on his or her own behalf or that of the seller; clarifies when banking institutions are exempt from coverage of the article and when New York persons are subject to the protections of this article. / Sponsor: FARLEY Committee: BANKS

Increases penalties for individuals or companies who engage in the business of cashing checks, drafts or money orders for consideration without a license; makes such violation a class E felony; provides for a fine of $2,500 for each transaction. / Sponsor: GRISANTI Committee: BANKS

Extends the provisions relating to the Gramm-Leach-Bliley act. / Sponsor: GRIFFO Committee: BANKS

Fixes the date of cancellation of financed insurance and provides for a mechanism for cancellation by electronic means; provides that the date of cancellation shall be in the cancellation notice. / Sponsor: SMITH Committee: BANKS

Relates to the imposition of fees for investigations and applications for banking institutions. / Sponsor: SMITH Committee: BANKS

Regulates the operation of automated teller machines by entities other than banking institutions; requires the registration of such machines, the examination of books, accounts and records, investigations, and also provides violations and penalties relating to the operation of such machines. / Sponsor: SMITH Committee: BANKS