Loading chat...
NY A03385
Bill
Status
1/22/2015
Primary Sponsor
Annette Robinson
Click for details
AI Summary
-
Requires the Department of Financial Services to prepare a written assessment of banking institutions' performance in meeting community credit needs when reviewing applications for branch offices, mergers, ATM installations, and other specified actions
-
Mandates that assessments include separate discussion of each assessment factor and complete explanation of how each factor was considered in making the assessment
-
Requires assessments to include annual data on housing loans to low and moderate-income residents, small business loans, farm loans, community development investments, staffing resources, and participation in loan insurance or guarantee programs
-
Makes assessments and related written communications from the Department of Financial Services available to the public upon request
-
Takes effect 120 days after becoming law, with authority for the Department to adopt necessary rules and regulations immediately
Legislative Description
Requires inclusion and explanation of additional annual data in assessing record of performance of banking institutions in meeting community credit needs; additional data to include but not be limited to: loans for housing low and moderate-income residents of low and moderate income areas, the scope of efforts to market housing and small business loans in low and moderate-income areas and other data.
Last Action
advanced to third reading cal.583
5/12/2016