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Information and Resources for Check Cashers

As stated in Section 367(1) of the New York Banking Law (“BL”), “No person, partnership, association or corporation shall engage in the business of cashing checks, drafts or money orders for a consideration without first obtaining a license from the superintendent.”

For licensing requirements see, e.g., BL Article 9-A and Superintendent’s Regulations Parts 400, 416, 417 and 300.

Announcements

On October 1st, 2018, the New York State Department of Financial Services (DFS) transitioned Check Cashers to the Nationwide Multistate Licensing System and Registry (NMLS) to manage license applications and ongoing regulation.  NMLS was created by the Conference of State Bank Supervisors (CSBS) and began operations in January 2008.

Applications

Annual Reports

Industry Letters

Examination and Annual Assessment Information

Institutions We Supervise

The Department of Financial Services supervises many different types of institutions. Supervision by DFS may entail chartering, licensing, registration requirements, examination, etc. The Who We Supervise search application can help you find out whether an institution is regulated and/or licensed by DFS, and what additional locations or branches they may have.

 

Updated 01/09/2019

Department of Financial Services

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