NY S02027

Establishes a banking development district working group to assess and provide recommendations for the existing banking development district program, with costs covered by assessments on bank branches within these districts

Working group membership includes the superintendent, state comptroller, NYC comptroller, NYC finance commissioner, Empire State Development commissioner, and chairs of relevant Senate and Assembly banking and economic development committees

Requires the working group to submit an initial assessment within one year, covering the number and location of participating branches, how the program serves unbanked/underbanked populations, and program strengths and weaknesses

Mandates annual assessments thereafter with future goals to be incorporated into the program each year

Defines "unbanked" as individuals not served by any insured institution and "underbanked" as those with bank accounts who have used alternative nonbank financial services in the past 12 months; provisions expire after 2 years