Loading chat...
NY A00421
Bill
Status
2/14/2025
Primary Sponsor
Khaleel Anderson
Click for details
AI Summary
-
Amends New York banking law section 28-b to add establishing a branch in a banking development district as a factor the superintendent considers when evaluating whether a banking institution meets its community's credit needs
-
Banking development districts are established under section 96-d of the banking law to encourage financial services in underserved areas
-
Repeals subparagraph 10-a of the same section that was added by 2024 legislation (S. 6648/A. 6090) addressing similar participation in banking development districts
-
Takes effect on the same date and in the same manner as the 2024 law it amends (S. 6648/A. 6090)
Legislative Description
Includes establishing a branch in a banking development district as a factor indicating that a banking institution is helping to meet the credit needs of its entire community for purposes of assessing such banking institution.
Last Action
signed chap.9
2/14/2025