Assembly Bill A8121

2009-2010 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

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2009-A8121 (ACTIVE) - Details

See Senate Version of this Bill:
S3426
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd ยง28-b, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: A1362, S4406
2013-2014: A3512
2015-2016: A3385
2017-2018: A1921
2019-2020: A1772

2009-A8121 (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 to include but not be 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.

2009-A8121 (ACTIVE) - Bill Text download pdf

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

                                  8121

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                               May 5, 2009
                               ___________

Introduced  by  M.  of  A.  JEFFRIES  --  Multi-Sponsored by -- M. of A.
  CAMARA, FARRELL, PHEFFER, TOWNS --  read  once  and  referred  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 315 of  the  laws
of 2008, is amended to read as follows:
  When taking any action on an application made by a banking institution
under  section  one  hundred  five, two hundred twenty-four, two hundred
forty, or three hundred ninety-six of this chapter for a  branch  office
or  under  section  one  hundred ninety-one of this chapter for a public
accommodation office or under section six hundred one-b of this  chapter
for approval or disapproval of a merger or purchase of assets, or taking
any  action on a notice submitted by a banking institution under section
one hundred five-a, two hundred forty-a or three hundred ninety-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  to which the banking board 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 ASSESSMENT 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06349-02-9
              

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