A 390 New York Assembly · 2025 Regular Session

Requires transmitters of money to provide a certain warning to consumers

This bill requires money transmitters (like banks, Western Union, or digital payment services) to provide a clear fraud warning to consumers before they send money to another person, business, or entity. Transmitters must also offer annual fraud prevention training to staff, monitor agent activity for suspicious transfers, and set up a toll-free fraud reporting number. The warning does not apply to electronic transfers where funds aren’t sent directly to a person or aren’t immediately usable. Violations carry civil penalties of up to $250 for the first offense and $500 for each repeat violation.

Issues: ✓ Technology

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 8, 2025 Last action May 6, 2026

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What changed between versions

A390 → A390A · 4 edits

MODERATE

The bill was amended to add specific, mandatory warning language that money transmitters must display to consumers before completing a transfer. The changes clarify exactly what the warning must say and how it must be presented, while also adding a new exemption for gift certificates.

Scope change

The scope of the warning requirement was expanded to include specific phrases about fraud and gift certificates, and the definition of 'clearly and prominently' was added to ensure the warning is visible and audible.

REQUIREMENT

Added specific required text for the consumer fraud warning, including a bold title and alerts about lottery winnings, credit card guarantees, and loans.

Added a new exemption stating that the warning is not required for electronic transfers involving gift certificates.

Changed the requirement from a general list of duties (training, monitoring) to a single, specific mandate to provide a clear and prominent warning prior to completing the transmission.

DEFINITION

Defined 'clearly and prominently' to specify that warnings must appear on the same form as the transfer authorization or be visible in a sign, with contrasting text and readable font size.

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 6, 2026

Lower · Passed

PRINT NUMBER 390A

lower

May 6, 2026

Lower · Passed

AMEND AND RECOMMIT TO BANKS

lower

Jan 7, 2026

Committee

REFERRED TO BANKS

lower

Jan 8, 2025

Committee

REFERRED TO BANKS

lower

1 primary · 6 co-sponsors