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Assembly Bill A7952

2019-2020 Legislative Session

Relates to directing the department of financial services to conduct a study on underbanked communities and households in New York state and to make recommendations to improve access to financial services

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Archive: Last Bill Status - In Assembly Committee

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2019-A7952 (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banks
Versions Introduced in 2021-2022 Legislative Session:
A5833, A8293

2019-A7952 (ACTIVE) - Summary

Directs the department of financial services to conduct a study on underbanked communities and households in New York state and to make recommendations to improve access to financial services.

2019-A7952 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7952
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 29, 2019
                                ___________
 
 Introduced  by M. of A. ORTIZ -- read once and referred to the Committee
   on Banks
 
 AN ACT to direct the department of financial services to conduct a study
   on underbanked communities and households in New  York  state  and  to
   make recommendations to improve access to financial services

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The superintendent of financial services is hereby  author-
 ized  and  directed  to  prepare or have prepared a study of underbanked
 communities and households in New York state and to provide  recommenda-
 tions  to  make  financial  services  accessible to such communities and
 households.  Such study shall include, but not be limited to, an  analy-
 sis  of  the  location  and  demographics of underbanked communities and
 households in New York state and the causes of  underbanked  communities
 and households in New York state.
   § 2. Such study and recommendations shall be completed and provided to
 the  governor  and the legislature within twelve months of the effective
 date of this act.
   § 3. As used in this act the  term  "underbanked"  shall  mean  having
 insufficient access to financial institutions for the purpose of banking
 and investment services.
   § 4. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11948-01-9

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