Senate Bill S3426

2009-2010 Legislative Session

Requires inclusion and explanation of additional annual data in assessing record of performance of banking institutions in meeting community credit needs

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Archive: Last Bill Status - In Senate Committee Banks Committee


  • 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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2009-S3426 (ACTIVE) - Details

See Assembly Version of this Bill:
A8121
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd §28-b, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: S4406, A1362
2013-2014: A3512
2015-2016: A3385
2017-2018: A1921
2019-2020: A1772

2009-S3426 (ACTIVE) - Summary

Requires inclusion and explanation of additional annual data in assessing record of performance of banking institutions in meeting community credit needs; additional data to include but not be limited to: loans for housing low and moderate-income residents of low and moderate income areas, the scope of efforts to market housing and small business loans in low and moderate-income areas and other data.

2009-S3426 (ACTIVE) - Sponsor Memo

2009-S3426 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3426

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 18, 2009
                               ___________

Introduced  by  Sen. SERRANO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks

AN ACT to amend the banking law, in relation to assessment of the record
  of performance of banking institutions in helping to meet  the  credit
  needs of local communities

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The opening paragraph of paragraph (a) of subdivision 3  of
section  28-b  of the banking law, as amended by chapter 315 of the laws
of 2008, is amended to read as follows:
  When taking any action on an application made by a banking institution
under section one hundred five, two  hundred  twenty-four,  two  hundred
forty,  or  three hundred ninety-six of this chapter for a branch office
or under section one hundred ninety-one of this  chapter  for  a  public
accommodation  office or under section six hundred one-b of this chapter
for approval or disapproval of a merger or purchase of assets, or taking
any action on a notice submitted by a banking institution under  section
one hundred five-a, two hundred forty-a or three hundred ninety-six-a of
this chapter for the use or installation of an automated teller machine,
point-of-sale  terminal  or  similar electronic facility or on any other
application to which the banking board shall by rule or regulation  make
applicable the provisions of this section, the superintendent shall take
into  account,  among  other  factors, an assessment, in writing, of the
record of performance of the banking institution in helping to meet  the
credit  needs of its entire community, including low and moderate-income
neighborhoods, consistent with safe and sound operation of  the  banking
institution.  SUCH ASSESSMENT SHALL INCLUDE A SEPARATE DISCUSSION OF THE
RECORD  OF  THE BANKING INSTITUTION PERTAINING TO EACH OF THE ASSESSMENT
FACTORS LISTED IN ALL OF THE  SUBPARAGRAPHS  OF  THIS  PARAGRAPH  AND  A
COMPLETE  EXPLANATION OF HOW EACH OF THESE FACTORS WAS CONSIDERED BY THE
DEPARTMENT IN MAKING THE ASSESSMENT. THIS EXPLANATION SHALL INCLUDE, BUT

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06349-02-9
              

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