Amd §28-b, rpld §28-b sub 3 ¶(a) sub¶ 10-a, Bank L (as proposed in S.6648 & A.6090)
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.
STATE OF NEW YORK
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812
2025-2026 Regular Sessions
IN SENATE(Prefiled)
January 8, 2025
___________
Introduced by Sen. SANDERS -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the banking law, in relation to including 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's
performance; and to repeal certain provisions of such law relating
thereto
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subparagraph 12 of paragraph (a) of subdivision 3 of
2 section 28-b of the banking law, as amended by chapter 264 of the laws
3 of 2019, is amended to read as follows:
4 (12) Other factors that, in the judgment of the superintendent,
5 reasonably bear upon the extent to which a banking institution is help-
6 ing to meet the credit needs of its entire community, including, without
7 limitation, the banking institution's participation in credit counseling
8 services or participation in a banking development district established
9 pursuant to section ninety-six-d of this chapter by establishing a
10 branch in such district.
11 § 2. Subparagraph 10-a of paragraph (a) of subdivision 3 of section
12 28-b of the banking law as added by a chapter of the laws of 2024 amend-
13 ing the banking law relating to including participation in a banking
14 development district as a factor when assessing a banking institution's
15 record of performance, as proposed in legislative bills numbers S. 6648
16 and A. 6090, is REPEALED.
17 § 3. This act shall take effect on the same date and in the same
18 manner as a chapter of the laws of 2024 amending the banking law relat-
19 ing to including participation in a banking development district as a
20 factor when assessing a banking institution's record of performance, as
21 proposed in legislative bills numbers S. 6648 and A. 6090, takes effect.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02856-01-5
