NY State Senate Bill 2021-S7090

Senate Bill S7090

Signed By Governor

2021-2022 Legislative Session

Provides for reporting for the state charter advisory board and extends the effectiveness of such board

download bill text pdf

Archive: Last Bill Status - Signed by Governor

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 16, 2021	signed chap.302
Jul 12, 2021	delivered to governor
Jun 09, 2021	returned to senate passed assembly ordered to third reading rules cal.634 substituted for a7924
Jun 03, 2021	referred to banks delivered to assembly passed senate
Jun 01, 2021	ordered to third reading cal.1430 committee discharged and committed to rules
May 28, 2021	referred to banks

Votes

- Jun 3, 2021 - Floor Vote
  S7090
  
  63
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 3, 2021
      
      aye (63)
      
      Addabbo Jr.
      
      Akshar
      
      Bailey
      
      Benjamin
      
      Biaggi
      
      Borrello
      
      Boyle
      
      Breslin
      
      Brisport
      
      Brooks
      
      Brouk
      
      Comrie
      
      Cooney
      
      Felder
      
      Gallivan
      
      Gaughran
      
      Gianaris
      
      Gounardes
      
      Griffo
      
      Harckham
      
      Helming
      
      Hinchey
      
      Hoylman-Sigal
      
      Jackson
      
      Jordan
      
      Kaminsky
      
      Kaplan
      
      Kavanagh
      
      Kennedy
      
      Krueger
      
      Lanza
      
      Liu
      
      Mannion
      
      Martucci
      
      Mattera
      
      May
      
      Mayer
      
      Myrie
      
      O'Mara
      
      Oberacker
      
      Ortt
      
      Palumbo
      
      Parker
      
      Persaud
      
      Ramos
      
      Rath III
      
      Reichlin-Melnick
      
      Ritchie
      
      Rivera
      
      Ryan
      
      Salazar
      
      Sanders Jr.
      
      Savino
      
      Sepúlveda
      
      Serino
      
      Serrano
      
      Skoufis
      
      Stavisky
      
      Stec
      
      Stewart-Cousins
      
      Tedisco
      
      Thomas
      
      Weik
  Jun 1, 2021 - Rules Committee Vote
  S7090
  
  19
  
  Aye
  
  0
  
  Nay
  
  2
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 1, 2021
      
      aye (19)
      
      Addabbo Jr.
      
      Bailey
      
      Benjamin
      
      Biaggi
      
      Boyle
      
      Breslin
      
      Comrie
      
      Gallivan
      
      Gianaris
      
      Kennedy
      
      Krueger
      
      Liu
      
      Mayer
      
      O'Mara
      
      Ortt
      
      Parker
      
      Ritchie
      
      Savino
      
      Stewart-Cousins
      
      aye wr (2)
      
      Griffo
      
      Lanza

2021-S7090 (ACTIVE) - Details

See Assembly Version of this Bill:: A7924
Law Section:: Financial Services Law
Laws Affected:: Amd §205-b, Fin Serv L; amd Part A §114, Chap 62 of 2011

2021-S7090 (ACTIVE) - Summary

Provides for annual reporting regarding meetings of the state charter advisory board; extends the effectiveness of such board for five years.

2021-S7090 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S7090

SPONSOR: THOMAS
 
TITLE OF BILL:

An act to amend the financial services law, in relation to reporting for
the state charter advisory board; and to amend chapter 62 of the laws of
2011, relating to constituting chapter 18-A of the consolidated laws
relating to financial services, in relation to extending the effective-
ness thereof

 
PURPOSE:

To extend the expiration of the State Charter Advisory Board for 5 addi-
tional year through October 3, 2026 and to add reporting requirements

 
SUMMARY OF PROVISIONS:

Section 1 amends section 205-b of the financial services law to provide
for annual reports from the superintendent that summarize topics
discussed at state charter advisory board meetings and recommendations

related to the topics raised at such meetings

Section 2 amends subdivision e of Section 114 of part A of Chapter 62 of
the laws of 2011 to amend Section 205-b of the financial services law to
extend the expiration of the state charter advisory board through Octo-
ber 2, 2026.

 
EXISTING LAW:

Authorization for the State Charter Advisory Board is set to expire on
October 3, 2021.

 
JUSTIFICATION:

The State Charter Advisory Board works with the Superintendent in
retaining state chartered banking institutions, encouraging federally
chartered institutions to convert to a state charter and promoting the
state banking system. There are nine members of the advisory board,
consisting of one representative of credit unions, one representative of
consumers, one representative of foreign banks; and representatives of
banks reflecting a range of assets, size and geographical location.

The superintendent governs the method by which state chartered insti-
tutions may nominate persons-to the board and the process for selecting
such members, provided that the representative of consumers is selected
by the Superintendent.

The requirement of an annual report allows the legislature to monitor
topics of concern to the industry and consumers and any discussion of
legislation that could be requested or appropriate.

 
LEGISLATIVE HISTORY:

New Legislation

 
FISCAL IMPLICATIONS:

To be determined
 
EFFECTIVE DATE:
Immediately

2021-S7090 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7090
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 28, 2021
                                ___________
 
 Introduced  by  Sen.  THOMAS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 AN ACT to amend the financial services law, in relation to reporting for
   the state charter advisory board; and to amend chapter 62 of the  laws
   of  2011,  relating  to  constituting chapter 18-A of the consolidated
   laws relating to financial services,  in  relation  to  extending  the
   effectiveness thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 205-b of the financial services law is  amended  by
 adding a new undesignated closing paragraph to read as follows:
   THE  SUPERINTENDENT  SHALL  MAKE AN ANNUAL REPORT NO LATER THAN THIRTY
 DAYS AFTER THE END OF EACH YEAR TO THE TEMPORARY PRESIDENT OF THE SENATE
 AND THE SPEAKER OF THE ASSEMBLY, WHICH SHALL INCLUDE A  SUMMARY  OF  THE
 TOPICS  DISCUSSED  AT  STATE CHARTER ADVISORY BOARD MEETINGS DURING SUCH
 YEAR, AND ANY LEGISLATIVE RECOMMENDATIONS RELATED TO THE  TOPICS  RAISED
 AT  SUCH  MEETINGS  OR  MADE BY ANY MEMBER OF THE STATE CHARTER ADVISORY
 BOARD.
   § 2. Subdivision (e) of section 114 of part A of  chapter  62  of  the
 laws  of 2011, relating to constituting chapter 18-A of the consolidated
 laws relating to financial services, as amended by chapter  228  of  the
 laws of 2016, is amended to read as follows:
   (e)  section  205-b  of the financial services law as added by section
 one of this act shall expire October 3, [2021] 2026, when upon such date
 the provisions of such section shall be deemed repealed;
   § 3. This act shall take effect  immediately;  provided,  however  the
 amendments  made  to section 205-b of the financial services law made by
 section one of this act shall not affect the repeal of such section  and
 shall be deemed repealed therewith.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11733-02-1

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