Requires transmitters of money to provide a certain warning to consumers

Latest action May 6, 2026

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

Not chosen yet

Where it stands

Passed one of the two chambers; it still needs the other.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A390, the matching bill in the Assembly.

Amends the Banking Law.

Committee

Banks · New York State Assembly

Also referred to Banks · New York State Senate.

Purpose, from the sponsor's memo

This bill would require a transmitter of money to provide a warning about potential fraud to consumers.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Floor vote
NY SenateFeb 5, 2026Result: passed
(46) (13) (0) (4)
Vote: Committee vote · Banks
Senate BanksJan 28, 2026Result: passed
(4) (2) (0) (0)
Vote: Floor vote
NY SenateMar 10, 2025Result: passed
(48) (13) (0) (2)
Vote: Committee vote · Banks
Senate BanksFeb 4, 2025Result: passed
(5) (2) (0) (0)

Cosponsors

Al Taylor, Andrea Stewart-Cousins and 14 more on Agora

Democratic16

Show all 16 on Agora

See the full list on nysenate.gov

The sponsor's argument

Why Michael Gianaris says this is needed

Consumer fraud hurts everyone regardless of age. The elderly however, are especially vulnerable to scams that call for the transferring of money. People receive calls or emails informing them that they won the lottery, that they have been offered a great deal, or that they can apply for a credit card if they simply transfer funds to an unspecified address. People have lost hundreds of thousands of dollars when they electronically transfer funds to individuals they do not know. This bill would require a financial institution to alert their customers to the dangers of consumer fraud. It would help New Yorkers make better, more informed decisions before participating in risky money transfers.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

May 6, 2026
Amend and Recommit to Banks
AMEND AND RECOMMIT TO BANKS
NY Assembly
Feb 5, 2026
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
Feb 5, 2026
Passed a chamber
PASSED SENATE
NY Senate
Feb 5, 2026
Referred to committee
REFERRED TO BANKS
NY Assembly
Feb 3, 2026
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate

Show full history (13 earlier events)

Jan 29, 2026
2ND Report CAL.
2ND REPORT CAL.
NY Senate
Jan 28, 2026
1ST Report CAL.187
1ST REPORT CAL.187
NY Senate
Jan 7, 2026
Died in Assembly
DIED IN ASSEMBLY
NY Assembly
Jan 7, 2026
Referred to committee
REFERRED TO BANKS
NY Assembly
Jan 7, 2026
Referred to committee
REFERRED TO BANKS
NY Senate
Mar 10, 2025
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
Mar 10, 2025
Passed a chamber
PASSED SENATE
NY Senate
Mar 10, 2025
Referred to committee
REFERRED TO BANKS
NY Assembly
Feb 10, 2025
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate
Feb 5, 2025
2ND Report CAL.
2ND REPORT CAL.
NY Senate
Feb 4, 2025
1ST Report CAL.285
1ST REPORT CAL.285
NY Senate
Jan 15, 2025
Referred to committee
REFERRED TO BANKS
NY Senate
Jan 8, 2025
Referred to committee
REFERRED TO BANKS
NY Assembly

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 31, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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