S T A T E O F N E W Y O R K
________________________________________________________________________
3512--A
2013-2014 Regular Sessions
I N A S S E M B L Y
January 28, 2013
___________
Introduced by M. of A. ROBINSON, CRESPO, WEPRIN, RODRIGUEZ -- Multi-
Sponsored by -- M. of A. CAMARA, FARRELL, PERRY -- read once and
referred to the Committee on Banks -- recommitted to the Committee on
Banks in accordance with Assembly Rule 3, sec. 2 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
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 227 of the laws
of 2013, is amended to read as follows:
When taking any action on an application or notice made by a banking
institution under (i) section one hundred five, two hundred twenty-four,
two hundred forty, or three hundred ninety-six of this chapter for a
branch office, (ii) section one hundred ninety-one of this chapter for a
public accommodation office, (iii) section six hundred one-b of this
chapter for approval of a merger or purchase of assets, or (iv) under
section one hundred five-a, two hundred forty-a or three hundred nine-
ty-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 or notice to which the superintendent of finan-
cial services 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 ASSESS-
MENT SHALL INCLUDE A SEPARATE DISCUSSION OF THE RECORD OF THE BANKING
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00152-02-4
A. 3512--A 2
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 NOT BE LIMITED TO, ANNU-
AL DATA FOR THE INSTITUTION AS FOLLOWS: LOANS FOR HOUSING LOW AND MODER-
ATE-INCOME RESIDENTS OF LOW AND MODERATE-INCOME AREAS, AND THE SCOPE OF
EFFORTS TO MARKET HOUSING AND SMALL BUSINESS LOANS IN LOW AND MODERATE-
INCOME AREAS; THE AMOUNT OF LOANS TO FARMS, AND LOANS TO SMALL BUSI-
NESSES THAT PROVIDE SERVICES TO LOW AND MODERATE-INCOME RESIDENTS OF LOW
AND MODERATE-INCOME AREAS; FINANCIAL INVESTMENTS IN AND CONTRIBUTIONS TO
NONPROFIT LOCAL COMMUNITY DEVELOPMENT OR REDEVELOPMENT PROJECTS OR ENTI-
TIES; MANPOWER RESOURCES COMMITTED TO LOW AND MODERATE-INCOME HOUSING
LENDING AND SMALL BUSINESS LENDING AND OTHER FORMS OF ADMINISTRATIVE
SUPPORT FOR SUCH LENDING; AND PARTICIPATION IN GOVERNMENTALLY OR
PRIVATELY SPONSORED LOAN INSURANCE, GUARANTEE OR SUBSIDY PROGRAMS FOR
HOUSING, SMALL BUSINESSES AND SMALL FARMS. Such assessment AND EXPLANA-
TION and any written communications from the department of financial
services to a banking institution relating to such assessment AND EXPLA-
NATION shall be made available to the public upon request, provided that
nothing contained in this subdivision shall be deemed to alter, amend or
affect the provisions of subdivision ten of section thirty-six of this
chapter. In making such assessment AND EXPLANATION, the superintendent
shall review all reports and documents filed WITH HIM OR HER pursuant to
subdivision one of this section and any signed, written comments
received by the superintendent which specifically relate to the banking
institution's performance in helping to meet the credit needs of its
community. In addition, the superintendent shall consider the following
factors in assessing AND EXPLAINING a banking institution's record of
performance:
S 2. This act shall take effect on the one hundred twentieth day after
it shall have become a law. Effective immediately, the addition, amend-
ment and/or repeal of any rules or regulations necessary for the imple-
mentation of the foregoing section of this act on its effective date are
authorized to be made on or before such effective date.