NY A05167

Establishes a banking development district working group to assess and recommend improvements to the existing banking development district program, funded by assessments on bank branches within those districts

Requires working group membership to include the superintendent, state comptroller, NYC comptroller, NYC finance commissioner, Empire State Development commissioner, and chairs of relevant Senate and Assembly banking committees

Mandates an initial assessment report within one year covering the number and location of participating branches, how the program serves unbanked/underbanked populations, and program strengths and weaknesses

Requires annual reports thereafter with updated assessments and future goals to strengthen the program

Defines "unbanked" as individuals without any insured institution account and "underbanked" as those with accounts who have used nonbank financial services in the past 12 months; bill expires after 2 years