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NY S03756

Bill

Official Source

Status

Engrossed

3/30/2017

Primary Sponsor

Diane Savino

Click for details

Origin

Senate

2017-2018 General Assembly

AI Summary

  • Amends New York Banking Law by adding section 46 to establish exemptions from community reinvestment evaluations
  • Banking organizations with total assets less than $1 billion are exempt from Department of Financial Services community reinvestment evaluations if they received a "satisfactory" or "outstanding" rating in their most recent Community Reinvestment Act examination by their 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

3/20/2018

Committee Referrals

Banks3/20/2018
Banks1/3/2018
Banks3/30/2017
Banks1/26/2017

Full Bill Text

No bill text available