Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 09, 2014 |
print number 2495a |
May 09, 2014 |
amend and recommit to banks |
Jan 08, 2014 |
referred to banks |
Jan 17, 2013 |
referred to banks |
Senate Bill S2495
2013-2014 Legislative Session
Sponsored By
(R, C) 53rd Senate District
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
Actions
Bill Amendments
2013-S2495 - Details
- Current Committee:
- Senate Banks
- Law Section:
- Banking Law
- Laws Affected:
- Amd §96-d, Bank L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S6692
2015-2016: S6239
2017-2018: S2715
2013-S2495 - Sponsor Memo
BILL NUMBER:S2495 TITLE OF BILL: An act to amend the banking law, in relation to banking development districts PURPOSE: This bill would strengthen the Banking Development District (BDD) program by clarifying the goals of the program and the criteria by which a branch's effectiveness should be measured. SUMMARY OF PROVISIONS: This bill amends Section 96-d of the Banking Law by adding a new subdivision 7 (a) and (b); (a) would require BDD branch's to provide affordable products and services, which include financial educational services within their community, and (b), would require participating BDD branch's to meet certain criteria in order to qualify for renewal of their deposit. JUSTIFICATION: The Banking Development District (BDD) Program was created in 1997 to provide an incentive to banks to promote the establishment of new bank branches in communities with. no or few branches and thereby stimulate the opening of bank accounts by community residents. The incentive of public deposits and other benefits provided to those
2013-S2495 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2495 2013-2014 Regular Sessions I N S E N A T E January 17, 2013 ___________ Introduced by Sen. GRIFFO -- 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 banking development districts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 96-d of the banking law is amended by adding a new subdivision 7 to read as follows: 7. (A) IN ORDER TO MEET THE DEMONSTRATED NEED FOR BANKING SERVICES IN A BANKING DEVELOPMENT DISTRICT, ANY BANK, TRUST COMPANY OR NATIONAL BANK THAT HAS ESTABLISHED A BRANCH WITHIN A BANKING DEVELOPMENT DISTRICT SHALL OFFER AFFORDABLE PRODUCTS AND SERVICES, INCLUDING FINANCIAL EDUCA- TION SERVICES, TAILORED TO THE BANKING NEEDS OF THE COMMUNITY IN WHICH THE BRANCH IS LOCATED. (B) ANY BANK, TRUST COMPANY OR NATIONAL BANK THAT HAS ESTABLISHED A BRANCH IN A BANKING DEVELOPMENT DISTRICT THAT SEEKS TO REMAIN IN THE BANKING DEVELOPMENT DISTRICT PROGRAM SHALL APPLY FOR RENEWAL OF AUTHORI- ZATION TO PARTICIPATE IN THE BANKING DEVELOPMENT DISTRICT PROGRAM IN A FORM AND MANNER DETERMINED BY THE SUPERINTENDENT. THE SUPERINTENDENT SHALL DETERMINE THE CRITERIA TO BE USED IN EVALUATING WHETHER TO GRANT SUCH RENEWAL REQUEST. SUCH CRITERIA SHALL INCLUDE, AT A MINIMUM, THE EXTENT TO WHICH THE BRANCH HAS MET ITS GOALS AS STATED IN ITS ORIGINAL BANKING DEVELOPMENT DISTRICT APPLICATION; THE EXTENT TO WHICH THE GOALS STATED IN ITS ORIGINAL APPLICATION CONTINUE TO BE RESPONSIVE TO THE BANKING NEEDS OF THE BANKING DEVELOPMENT DISTRICT IN WHICH THE BRANCH IS LOCATED; THE EXTENT TO WHICH THE BRANCH HAS BEEN RESPONSIVE TO THE BANK- ING NEEDS OF, AND ENJOYS THE SUPPORT OF, THE COMMUNITY IN WHICH IT IS LOCATED; THE QUALITY OF AFFORDABLE PRODUCTS AND SERVICES OFFERED BY THE BRANCH; THE EXTENT OF FINANCIAL EDUCATION ACTIVITIES IN WHICH THE BRANCH HAS PARTICIPATED; OTHER INFORMATION REGARDING THE BRANCH, INCLUDING ITS PROFITABILITY, LENDING ACTIVITIES AND EMPLOYMENT LEVELS. S 2. This act shall take effect on the ninetieth day after it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
2013-S2495A (ACTIVE) - Details
- Current Committee:
- Senate Banks
- Law Section:
- Banking Law
- Laws Affected:
- Amd §96-d, Bank L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S6692
2015-2016: S6239
2017-2018: S2715
2013-S2495A (ACTIVE) - Sponsor Memo
BILL NUMBER:S2495A TITLE OF BILL: An act to amend the banking law, in relation to banking development districts PURPOSE OR GENERAL IDEA OF BILL: This bill would strengthen the Banking Development District (BDD) program by clarifying the goals of the program and the criteria by which a branch's effectiveness should be measured. SUMMARY OF SPECIFIC PROVISIONS: This bill amends subdivision (2) and adds a new subdivision 3 (a) to Banking Law section 96-d. Subdivision (2) provides that a designation of a BDD will be effective valid for ten years upon which time, the designation can be renewed for another ten years with the approval of the Superintendent of the Department of Financial Services and new subdivision 3(a), requiring every BDD branch to provide affordable products and services, which includes financial educational services within their community. JUSTIFICATION: The Banking Development District (BDD) Program was created in 1997 to
2013-S2495A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2495--A 2013-2014 Regular Sessions I N S E N A T E January 17, 2013 ___________ Introduced by Sen. GRIFFO -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- recommitted to the Committee on Banks in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law, in relation to banking development districts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 96-d of the banking law, as added by chapter 204 of the laws of 1997, is amended to read as follows: 2. A local government, in conjunction with a bank, trust company or national bank, may submit an application to the superintendent for the designation of a banking development district. The superintendent shall issue a determination on such an application within sixty days of receiving such application. If an application is approved, the super- intendent shall transmit notification of such approval to the local government, the bank, trust company or national bank, the state comp- troller, the commissioner of taxation and finance, the commissioner of the department of economic development, the temporary president of the senate and the speaker of the assembly. A DESIGNATION OF A BANKING DEVELOPMENT DISTRICT SHALL BE VALID FOR TEN YEARS FROM THE DATE OF DESIGNATION. THE SUPERINTENDENT MAY EXTEND THE TERM OF A BANKING DEVEL- OPMENT DISTRICT AN ADDITIONAL TEN YEAR PERIOD UPON A DETERMINATION THAT THERE IS A DEMONSTRATED NEED FOR BANKING SERVICES IN SUCH BANKING DEVEL- OPMENT DISTRICT. S 2. Section 96-d of the banking law is amended by adding a new subdi- vision 3-a to read as follows: 3-A. IN ORDER TO MEET THE DEMONSTRATED NEED FOR BANKING SERVICES IN A BANKING DEVELOPMENT DISTRICT, ANY BANK, TRUST COMPANY OR NATIONAL BANK THAT HAS ESTABLISHED A BRANCH WITHIN A BANKING DEVELOPMENT DISTRICT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00177-05-4
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