Skip to main content

Agora
Sign in

Senate bill · S8279 (2025-26)

Directs the superintendent of financial services to conduct an analysis of the financial stability of the check cashing industry and review the current system…

New York State Senate

Same as A8761, the matching bill in the Assembly.

Latest action Jun 5, 2026

Sponsor: Luis R. Sepúlveda (State Senator, District 32, Democratic)

Official titleShow

Directs the superintendent of financial services to conduct an analysis of the financial stability of the check cashing industry and review the current system of licensing for such industry

The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.

Follow

Following needs an Agora account. You will sign in first, then come back to this page.

From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 20, 2026. About our data

Summary

Directs the superintendent of financial services to conduct an analysis of the financial stability of the check cashing industry and review the current system of licensing for such industry and issue reports on both topics.

Summary from NY Open Legislation. How we handle summaries

Purpose, from the sponsor's memo

Section 1. Mandates commencement within 90 days of enactment an analysis by the Superintendent of licensee's reports annually required by Article 9-A of the Banking Law. Section 2. Mandates a comprehensive review within 90 days of enactment a comprehensive review of the licensure application process and adminis- trative oversight by the Department of Financial Services of check cash- ing enterprises licensed by the Department. If further mandates that a report to the Governor and Chairs of the Banking Committee Chairs in each house of the Legislature be submitted by the Superintendent within one hundred eighty days of enactment. Section 3. States the bill has an immediate effective date.

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

Where it stands

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

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

Banks · New York State Assembly

Also referred to Banks · New York State Senate, Ways and Means · New York State Assembly.

Your position on this bill

Choose the position closest to yours. You'll sign in or create an account to save it.

Sign in or create an account to give your position

Cosponsors

Showing the cosponsors who are on Agora, A to Z. The official record may list more.

Read on NY Senate (opens in a new tab)
  • Democratic6

Shown in neutral colors by design; Agora is non-partisan.

The sponsor's argument

Why Luis R. Sepúlveda says this is needed

The delivery of financial services to consumers has been revolutionized by modern technological advances such as widespread access to the Inter- net, smart phone capacity, electronic debit cards, ATM terminals and other developments. Traditional banks have routinely shuttered brick and mortar locations and increased electronic delivery of services to their customers and account holders. The rules, regulations and oversight by the Department of Financial of the licensed check casher enterprises has not been comprehensively reviewed to permit the check casher enterprises it licenses to diversify the methods and modes of delivery of services by them to their customers. This bill would encourage the modernization of the oversight rendered by the Department of Financial Services to check casher licensees operating within the State.

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.

Recorded votes

  • Vote: Floor vote

    NY SenateJun 4, 2026Result: passed

    (60) (0) (0) (3)

  • Vote: Committee vote · Banks

    Senate BanksMay 12, 2026Result: passed

    (7) (0) (0) (0)

Full history

  1. Jun 5, 2026

    Referred to committee

    REFERRED TO WAYS AND MEANS

    NY Assembly

  2. Jun 4, 2026

    Sent to the executive

    DELIVERED TO ASSEMBLY

    NY Senate

  3. Jun 4, 2026

    Passed a chamber

    PASSED SENATE

    NY Senate

  4. May 14, 2026

    Advanced to Third Reading

    ADVANCED TO THIRD READING

    NY Senate

  5. May 13, 2026

    2ND Report CAL.

    2ND REPORT CAL.

    NY Senate

Show full history (6 earlier events)
  1. May 12, 2026

    1ST Report CAL.1031

    1ST REPORT CAL.1031

    NY Senate

  2. Jan 20, 2026

    Reported out of committee

    REPORTED REFERRED TO WAYS AND MEANS

    NY Assembly

  3. Jan 7, 2026

    Referred to committee

    REFERRED TO BANKS

    NY Senate

  4. Jan 7, 2026

    Referred to committee

    REFERRED TO BANKS

    NY Assembly

  5. Jun 2, 2025

    Referred to committee

    REFERRED TO BANKS

    NY Assembly

  6. May 29, 2025

    Referred to committee

    REFERRED TO BANKS

    NY Senate

Read the record