1. The Laws of New York
  2. Consolidated Laws
  3. Banking
  4. Article 2: Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers


Section 18-A Application fees

Banking (BNK)

1. The provisions of this section shall only be applicable to applications for which a fee is authorized to be imposed by any other provision of this chapter or regulations promulgated thereunder.

  2. The fees set forth in this section may be imposed notwithstanding any fee amount set forth in any other provision of this chapter or the regulations promulgated thereunder.

  3. As used in this section, "applications" shall include notices and similar filings.

  4. The fee which shall be imposed for any application for an initial license, registration, incorporation or for the formation of any other entity pursuant to this chapter, or for a merger, acquisition, purchase or sale of assets, change of control, or for any other application requiring the approval of the superintendent that may necessitate, as determined by the superintendent, a determination regarding the character or fitness and/or the safety and soundness of such applicant or a similar investigative undertaking by the department, shall be:

  (a) twelve thousand five hundred dollars when such application relates to a banking organization, bank holding company or, except as provided in paragraph (b) of this subdivision, a foreign banking corporation;

  (b) seven thousand five hundred dollars when such application relates to licensing a branch, agency or representative office of a foreign banking corporation;

  (c) one thousand five hundred dollars when the application relates to a mortgage broker; or

  (d) three thousand dollars for all other such applications.

  5. The fee for any other application requiring the approval of the superintendent, including, but not limited to, any application required to change the name of the applicant, open branches or offices or additional locations, or relocate an existing branch, office, or location, and any other application not subject to subdivision four of this section, shall be:

  (a) seven hundred fifty dollars when the application relates to a banking organization, bank holding company, out-of-state state bank, foreign credit union, or foreign banking corporation;

  (b) two thousand dollars when the application relates to the licensing of an additional location or change of location or the licensing of a mobile unit of a licensed casher of checks; or

  (c) five hundred dollars for all other such applications.

  6. The superintendent, in his or her sole discretion, may waive or reduce the amount of the fee to be imposed pursuant to this section, either on a case-by-case basis or, by regulation, generally with respect to a type of application, if the superintendent determines that:

  (a) the payment of such fee would impose an economic hardship upon the applicant;

  (b) the amount of such fee is excessive with respect to the expenses incurred by the department of financial services to investigate such application; or

  (c) such waiver or reduction (i) serves the interests of interstate administrative reciprocity or multi-state regulatory cooperation; (ii) facilitates the administration of the department of financial services; or (iii) is otherwise appropriate.