Assembly BillIntroduced
A 148: Imposes a fee of not less than twenty per centum of transaction amounts equal to or exceeding one thousand dollars on customers who initiate international wire transfers without a valid social security number or taxpayer identification number.
What A 148 does, verified May 11, 2026
The bill proposes to impose a fee on customers who initiate international wire transfers without providing a valid social security number or taxpayer identification number. Licensed money transmitters must verify a transaction initiator's identification for international wire transfers. If a customer cannot provide the required identification, they will be subject to a fee of at least 20% of the transaction amount exceeding $1,000. The revenue collected from this fee will be credited to the state general fund. The bill also requires the development of necessary rules, regulations, and forms to safeguard customer information. The bill will take effect 180 days after it becomes a law.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: held for consideration in banks (2026-05-11)Alert me
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions3 total · showing 3
| May. 11, 2026 | held for consideration in banks |
| Jan. 07, 2026 | referred to banks |
| Jan. 08, 2025 | referred to banks |
Latest bill textIntroduced version, January 8, 2025 · 306 words
STATE OF NEW YORK ________________________________________________________________________ 148 2025-2026 Regular Sessions IN ASSEMBLY (Prefiled) January 8, 2025 ___________ Introduced by M. of A. PIROZZOLO, BLANKENBUSH, DeSTEFANO, CHANG, MANKTE- LOW -- read once and referred to the Committee on Banks AN ACT to amend the banking law, in relation to imposing a fee on customers who initiate international wire transfers without a valid social security number or taxpayer identification number The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The banking law is amended by adding a new section 651-c to 2 read as follows: 3 § 651-c. Requirements and fees for international wire transfers. 1. 4 Licensed money transmitters, as defined pursuant to section six hundred 5 forty-one of this article, shall be required to verify a transaction 6 initiator's social security number or taxpayer identification number for 7 the purposes of an international wire transfer. 8 2. If a transaction initiator is unable to provide either documenta- 9 tion item required pursuant to subdivision one of this section, such 10 transaction initiator shall be subject to a fee of not less than twenty 11 per centum of transaction amounts equal to or exceeding one thousand 12 dollars. 13 3. The superintendent shall be required to develop all necessary 14 rules, regulations, and forms necessary to safeguard sensitive customer 15 information. 16 4. Notwithstanding any other provision of law to the contrary, all 17 revenues collected pursuant to this section shall be credited to the 18 state general fund. 19 § 2. This act shall take effect on the one hundred eightieth day after 20 it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00964-01-5
Text of A 148 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions