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NY A05980
Bill
Status
6/15/2015
Primary Sponsor
Marcos Crespo
Click for details
AI Summary
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Superintendent of Financial Services must conduct a comprehensive study and report on banking products and services in low income communities and their impact
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Study must compare products and services, fees (ATM, checking account, overdraft), and interest rates between low income and higher income communities
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Study must examine payday loan prevalence, interest rates charged, and analyze the impact of state and federal Community Reinvestment Act on low income communities
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Report must be delivered to the Governor, Speaker of the Assembly, and Temporary President of the Senate no later than January 1, 2018
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Act takes effect immediately and expires January 1, 2018
Legislative Description
Requires a study and report on banking products and services offered in low income communities.
Last Action
RECOMMITTED TO BANKS
5/25/2016