NY A08705

Directs the Superintendent of Financial Services to conduct a study of the banking development district program to improve financial services access for unbanked and underbanked communities

Requires analysis of the location and demographics of underbanked communities in New York State and the causes of their limited banking access

Mandates a review of all participating financial institutions in the banking development district program, including their local economic impact, number of loans, and customers served

Requires recommendations on how to improve the program and increase the number of participating financial institutions

Study and recommendations must be completed and submitted to the governor and legislature within 12 months of the act's effective date