Senate Bill S2461

2017-2018 Legislative Session

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

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2017-S2461 (ACTIVE) - Details

See Assembly Version of this Bill:
A1921
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd §28-b, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8121, A4438
2011-2012: A1362
2013-2014: A3512
2015-2016: S6236, A3385
2019-2020: S3227, A1772

2017-S2461 (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 includes but is not 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.

2017-S2461 (ACTIVE) - Sponsor Memo

2017-S2461 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2461
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2017
                                ___________
 
 Introduced  by Sen. HAMILTON -- 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 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
 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-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.