New York legislation · 2025-2026 General Assembly
New York S8279: 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
Status: In committee, June 5, 2026
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.
What the bill says
An act directing 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.
From the introduced text, May 29, 2025:
AN ACT directing 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 PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. Within ninety days of the effective date of this act, the superintendent of financial services shall commence an analysis of the financial stability of the check cashing industry based on licensees' annual reports and the record of store closures pursuant to article 9-A of the banking law, and within one hundred eighty days of the effective date of this act shall issue a report to the governor and the legislature, and make such report available to check cashing licensees on the department of financial services website. § 2. Within ninety days of the effective date of this act, the superintendent of financial services shall commence a review of such superintendent's current system of issuing licenses for check cashing licensees, the establishment of new check cashing locations, for the relocation of check cashing locations, and for changes of control of existing check cashing licensees, and shall issue a report to the governor, the chair of the assembly banks committee, and the chair of the senate banks committee, regarding the costs (including …
Sponsors
- Luis Sepúlveda (D, 32) · primary sponsor
- Robert Jackson (D, 31)
- Roxanne Persaud (D, 19)
Latest actions
- : REFERRED TO WAYS AND MEANS
- : DELIVERED TO ASSEMBLY
- : PASSED SENATE
- : ADVANCED TO THIRD READING
- : 2ND REPORT CAL.
- : 1ST REPORT CAL.1031
- : REFERRED TO BANKS
- : REFERRED TO BANKS
Votes
- FLOOR Vote (June 4, 2026): 60 yea, 0 nay, passed
- Senate Banks Committee: COMMITTEE Vote (May 12, 2026): 7 yea, 0 nay, passed
- Banks Committee Vote (May 12, 2026): 7 yea, 0 nay, passed
Subjects: Banks
Common questions
- What is S8279?
- S8279 is a bill in the New York Legislature (2025-2026 General Assembly): 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.
- What does S8279 do?
- In its own words: An act directing 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.
- What is the status of S8279?
- In committee as of June 5, 2026. Latest action: REFERRED TO WAYS AND MEANS (June 5, 2026).
- Who sponsored S8279?
- Luis Sepúlveda (D, 32), with 2 co-sponsors.
- Where is the official record for S8279?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/S8279
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.