Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to banks |
Jan 17, 2017 |
referred to banks |
Senate Bill S2715
2017-2018 Legislative Session
Sponsored By
(D) 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
2017-S2715 (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
2013-2014: S2495
2015-2016: S6239
2017-S2715 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2715 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 (6) of the Banking Law by adding a new subdivision 3(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
2017-S2715 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2715 2017-2018 Regular Sessions I N S E N A T E January 17, 2017 ___________ Introduced by Sen. HAMILTON -- 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. 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. § 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 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. § 3. This act shall take effect on the one hundred eightieth day after it shall have become a law.
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