Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 01, 2021 |
signed chap.549 |
Oct 22, 2021 |
delivered to governor |
Jun 10, 2021 |
returned to assembly passed senate 3rd reading cal.1691 substituted for s5246a |
Jun 10, 2021 |
substituted by a6247a |
Jun 09, 2021 |
ordered to third reading cal.1691 committee discharged and committed to rules |
May 20, 2021 |
print number 5246a |
May 20, 2021 |
amend (t) and recommit to banks |
Feb 26, 2021 |
referred to banks |
Senate Bill S5246
Signed By Governor2021-2022 Legislative Session
Sponsored By
(D, WF) 63rd Senate District
Archive: Last Bill Status Via A6247 - Signed by Governor
- 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
Actions
Votes
Bill Amendments
2021-S5246 - Details
- Law Section:
- Banking Law
- Laws Affected:
- Amd §28-b, Bank L
- Versions Introduced in 2021-2022 Legislative Session:
-
S5246
2021-S5246 - Sponsor Memo
BILL NUMBER: S5246 SPONSOR: KENNEDY TITLE OF BILL: An act to amend the banking law, in relation to including non-depository lenders in the state community reinvestment act PURPOSE OR GENERAL IDEA OF BILL:: Allows non-depository lenders into the state community reinvestment act. SUMMARY OF PROVISIONS: Section 1. Amends subdivisions 1 and 4 of section 28-b of the banking law. Section 2: Sets the effective date JUSTIFICATION::
2021-S5246 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5246 2021-2022 Regular Sessions I N S E N A T E February 26, 2021 ___________ Introduced by Sen. KENNEDY -- 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 including non-depository lenders in the state community reinvestment act THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 1 and 4 of section 28-b of the banking law, subdivision 1 as amended by chapter 360 of the laws of 1984, and subdi- vision 4 as amended by chapter 180 of the laws of 2012, are amended to read as follows: 1. Each banking institution as defined in subdivision four of this section to which the Community Reinvestment Act of 1977, United States P.L. 95-128, applies shall file with the superintendent a copy of each report and document which it is required to prepare for or file with one or more federal agencies pursuant to the provisions of that law and the rules and regulations promulgated thereunder. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, EACH PERSON OR ENTITY LICENSED PURSU- ANT TO ARTICLE NINE OF THIS CHAPTER TO WHICH THE COMMUNITY REINVESTMENT ACT OF 1977, UNITED STATES P.L. 95-128, DOES NOT APPLY SHALL FILE WITH THE SUPERINTENDENT REPORTS AND DOCUMENTS PURSUANT TO RULES AND REGU- LATIONS PROMULGATED BY THE SUPERINTENDENT WHICH ARE EQUIVALENT TO THE REPORTS AND DOCUMENTS REQUIRED PURSUANT TO THE COMMUNITY REINVESTMENT ACT OF 1977, UNITED STATES P.L. 95-128 AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER. Where a banking institution has filed such reports or documents with the superintendent, an update of the reports or documents shall be required at such time as the banking institution requests the superintendent to take any action on any application to which the provisions of subdivision three of this section apply. 4. Notwithstanding any other provision of this chapter or other law to the contrary, the term banking institution when used in this section shall mean and include all banks, trust companies, savings banks, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2021-S5246A (ACTIVE) - Details
- Law Section:
- Banking Law
- Laws Affected:
- Amd §28-b, Bank L
- Versions Introduced in 2021-2022 Legislative Session:
-
S5246
2021-S5246A (ACTIVE) - Sponsor Memo
BILL NUMBER: S5246A SPONSOR: KENNEDY TITLE OF BILL: An act to amend the banking law, in relation to the assessment of the record of performance of mortgage bankers in helping to meet the credit needs of local communities PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to expand the requirements of the state community reinvestment act to non-depository lenders. SUMMARY OF PROVISIONS: Section 1. Creates a new section, 28-bb of the banking law, to require non-depository lenders to participate in the community reinvestment act. Section 2: Sets the effective date
2021-S5246A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5246--A 2021-2022 Regular Sessions I N S E N A T E February 26, 2021 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law, in relation to the assessment of the record of performance of mortgage bankers in helping to meet the cred- it 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 banking law is amended by adding a new section 28-bb to read as follows: § 28-BB. CREDIT NEEDS OF LOCAL COMMUNITIES; MORTGAGE BANKERS. 1. WHEN TAKING ANY ACTION ON AN APPLICATION MADE BY A MORTGAGE BANKER LICENSED PURSUANT TO SECTION FIVE HUNDRED NINETY-ONE OF THIS CHAPTER FOR A CHANGE IN CONTROL UNDER SECTION FIVE HUNDRED NINETY-FOUR-B OF THIS CHAPTER, 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 MORTGAGE BANKER IN HELPING TO MEET THE CREDIT NEEDS OF ITS ENTIRE COMMU- NITY, INCLUDING LOW AND MODERATE INCOME NEIGHBORHOODS, AND CONSISTENT WITH SAFE AND SOUND OPERATION OF THE MORTGAGE BANKER. SUCH ASSESSMENT AND ANY WRITTEN COMMUNICATIONS FROM THE DEPARTMENT OF FINANCIAL SERVICES TO A MORTGAGE BANKER RELATING TO SUCH ASSESSMENT 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 ARTICLE. IN MAKING SUCH ASSESSMENT OF A MORTGAGE BANKER, THE SUPERINTENDENT SHALL REVIEW ALL REPORTS AND DOCUMENTS FILED BY THE MORTGAGE BANKER PURSUANT TO SECTION FIVE HUNDRED NINETY-SEVEN OF THIS CHAPTER. IN ADDITION, THE SUPERINTEN- DENT SHALL CONSIDER THE FOLLOWING FACTORS IN ASSESSING A MORTGAGE BANK- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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