S 1290 New York Senate · 2025 Regular Session

Allows the department of financial services to impose penalties on unlawfully unlicensed entities

Summary

Allows the department of financial services to have additional oversight of banks and insurance companies that are not currently licensed in this state; provides penalties for violations.

Bill status died 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Jan 2026

Senate Passage

May 2025

Assembly Passage

Governor

Introduced Jan 9, 2025 Last action Jan 7, 2026

Floor votes · Senate May 22, 2025

How they voted

44–13

Passed · 5 other

Total votes 62

May 22, 2025

D Democratic40

37 Yea 3

92% Yea

R Republican22

7 Yea 13 Nay 2

59% Nay

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jan 7, 2026

Committee

REFERRED TO BANKS

upper

May 22, 2025

Committee

REFERRED TO BANKS

lower

May 22, 2025

Upper · Passed

PASSED SENATE

upper

Jan 9, 2025

Committee

REFERRED TO BANKS

upper

1 primary · 0 co-sponsors