Joseph A. Griffo's posts related to Loans

Griffo/Magee Bill A Win For Communities...And Their Banks

Community banks can now accept millions more in state deposits - and make additional funds available for local loans - after a bill sponsored by Sen. Joseph A. Griffo and Assemblyman William Magee was signed into law Thursday.The bill (S.2494/A.3236) permits the state comptroller and state Taxation & Finance commissioner to deposit up to $20 million in state funds at each community bank. The previous limit was $10 million.