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NY A10915
Bill
Status
4/29/2010
Primary Sponsor
Darryl Towns
Click for details
AI Summary
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Authorizes banks, savings banks, and savings and loan associations to conduct banking business using remote deposit capture machines, which allow customers to remotely transmit check data for processing and deposit.
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Clarifies that the superintendent may issue orders requiring banking organizations to make good an impairment of capital or deficient capital condition, with deficiency defined as the superintendent's discretionary determination based on the extent and nature of operations.
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Modifies reporting requirements by allowing the superintendent to designate periodic report dates for banks and trust companies at least twice yearly, with reports filed in superintendent-prescribed form.
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Modifies the bulletin publication requirement to allow the superintendent to post weekly bulletins on Friday or other appropriate days on the department's website, rather than requiring specific noon publication.
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Conforms mortgage banker and mortgage broker licensing disqualifications to match mortgage loan originator provisions, including expanding the felony lookback period to seven years for fraud, dishonesty, breach of trust, or money laundering convictions in any jurisdiction.
Legislative Description
Permits remote deposit capture machines, clarifies the definition of capital impairment for banking institutions, modifies reporting required by banking organizations, conforms criminal provisions of the mortgage banking article to those in the mortgage loan originator article, reduces operating expenses of the banking department, and makes other technical changes.
Last Action
referred to banks
4/29/2010