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NY S05297

Bill

Official Source

Status

Engrossed

6/16/2015

Primary Sponsor

Diane Savino

Click for details

Origin

Senate

2015-2016 General Assembly

AI Summary

  • Amends New York Banking Law by adding Section 46 to establish community reinvestment evaluation exemptions
  • Banking organizations with total assets under $1 billion are exempt from Department of Financial Services community reinvestment evaluations
  • Exemption applies only if the organization received a "Satisfactory" or "Outstanding" rating in its most recent Community Reinvestment Act examination by its primary federal regulator
  • Takes effect 60 days after becoming law

Legislative Description

Relates to community reinvestment evaluation exemptions; a bank organization which has total assets of less than one billion dollars with a satisfactory or outstanding rating shall be exempt from community reinvestment evaluations by the department of financial services.

Last Action

referred to banks

6/7/2016

Committee Referrals

Banks6/7/2016
Rules6/1/2016
Banks1/6/2016
Banks6/16/2015
Banks5/12/2015

Full Bill Text

No bill text available