Loading chat...
NY A04438
Bill
Status
2/4/2009
Primary Sponsor
Karim Camara
Click for details
AI Summary
-
Requires written assessments of banking institutions' performance in meeting community credit needs, including low and moderate-income neighborhoods, when the superintendent reviews applications for branch offices, mergers, or automated teller machine installations
-
Mandates assessments include separate discussions of each assessment factor and a complete explanation of how the department considered each factor in its evaluation
-
Specifies annual data that must be included in assessments, such as housing loans to low and moderate-income residents, small business loans, farm loans, community development investments, staffing resources, and participation in loan insurance and guarantee programs
-
Requires assessments and related written communications from the banking department to be made available to the public upon request
-
Effective 120 days after enactment, with authority to adopt necessary rules and regulations prior to the effective date
Legislative Description
An act to amend the banking law, in relation to assessment of the record of performance of banking institutions in helping to meet the credit needs of local communities
Last Action
enacting clause stricken
5/4/2009