Loading chat...
NY A10232
Bill
Status
Introduced
3/26/2018
Primary Sponsor
Kimberly Jean-Pierre
Click for details
AI Summary
- Amends banking law section 96-d to include low income credit unions designated under section 450-a in the banking development district program for cities with populations exceeding one million residents
- Extends banking development district program provisions to low income credit unions and federal credit unions designated as low income by the National Credit Union Administration in large cities
- Permits low income credit unions in qualifying cities to establish branches in banking development districts under the same conditions as savings banks and federal savings institutions
- Restricts municipal or public fund deposits at low income credit union branches to the sponsoring municipality where the branch is located and applies the same requirements as deposits in traditional banks
- Takes effect immediately, with amendments to section 96-d deemed repealed upon repeal of that subdivision
Legislative Description
Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons.
Last Action
advanced to third reading cal.933
5/17/2018
Committee Referrals
Ways and Means4/24/2018
Banks3/26/2018
Full Bill Text
No bill text available