assembly Bill A8794

2017-2018 Legislative Session

Relates to the creation of the office of financial services for new Americans

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to banks
Nov 27, 2017 referred to banks

Co-Sponsors

A8794 (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Add §46, Bank L
Versions Introduced in Other Legislative Sessions:
2019-2020: A2059
2021-2022: A3273

A8794 (ACTIVE) - Summary

Relates to the creation of the office of financial services for new Americans for the purpose of assisting immigrant communities in gaining financial knowledge and understanding.

A8794 (ACTIVE) - Bill Text download pdf


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

                                  8794

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            November 27, 2017
                               ___________

Introduced  by  M.  of  A.  KIM, VANEL, SOLAGES, D'URSO -- read once and
  referred to the Committee on Banks

AN ACT to amend the banking law, in relation  to  the  creation  of  the
  office of financial services for new Americans

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

  Section 1. The banking law is amended by adding a new  section  46  to
read as follows:
  §  46.  OFFICE  OF  FINANCIAL  SERVICES FOR NEW AMERICANS. 1. THERE IS
HEREBY  ESTABLISHED  WITHIN  THE  DEPARTMENT  THE  OFFICE  OF  FINANCIAL
SERVICES  FOR  NEW AMERICANS. THE SUPERINTENDENT SHALL APPOINT THE CHIEF
FINANCIAL ADVISOR FOR NEW AMERICANS WHO SHALL APPOINT STAFF AND  PERFORM
SUCH  OTHER  FUNCTIONS  TO  ENSURE THE EFFICIENT OPERATION OF THE OFFICE
WITHIN THE AMOUNTS MADE AVAILABLE THEREFOR BY APPROPRIATION.
  2. THE OFFICE OF FINANCIAL SERVICES FOR NEW AMERICANS SHALL  HAVE  THE
POWER AND RESPONSIBILITY TO:
  (A) DEVELOP AND IMPLEMENT NEW PROGRAMS AND INITIATIVES FOR THE PURPOSE
OF  ASSISTING  IMMIGRANT  COMMUNITIES IN GAINING FINANCIAL KNOWLEDGE AND
UNDERSTANDING. SUCH PROGRAMS  AND  INITIATIVES  SHALL  ASSIST  IMMIGRANT
COMMUNITIES IN:
  (I) GAINING FINANCIAL LITERACY;
  (II) NAVIGATING FINANCIAL INSTITUTIONS;
  (III) LEARNING HOW TO BORROW, LEND AND INVEST MONEY; AND
  (IV) LEARNING HOW TO BUILD CREDIT;
  (B)  CONDUCT WORKSHOPS ON FINANCIAL TOPICS AND OFFER FINANCIAL ASSIST-
ANCE AND GUIDANCE TO IMMIGRANT COMMUNITIES; AND
  (C) ADVOCATE ON BEHALF OF IMMIGRANTS IN DEALINGS WITH BANKS, FINANCIAL
INSTITUTIONS AND CREDIT BUREAUS.
  § 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13770-01-7