Assembly Bill A7324A

Signed By Governor
2021-2022 Legislative Session

Directs the department of financial services to conduct a study on certain impacts of the coronavirus (COVID-19) pandemic

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S6070 - 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

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Bill Amendments

2021-A7324 - Details

See Senate Version of this Bill:
S6070
Law Section:
Financial Services

2021-A7324 - Summary

Directs the department of financial services to conduct a study on the impacts of the coronavirus (COVID-19) pandemic on underbanked and underserved areas and small businesses and minority- and women-owned business enterprises getting loans.

2021-A7324 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7324
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 5, 2021
                                ___________
 
 Introduced by M. of A. ANDERSON -- read once and referred to the Commit-
   tee on Governmental Operations
 
 AN ACT directing the department of financial services to conduct a study
   on certain impacts of the coronavirus (COVID-19) pandemic
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. 1. The department of financial  services  shall  conduct  a
 study  on  the  impact  of  the  coronavirus  (COVID-19) pandemic on the
 following:
   (a) underbanked and underserved areas;
   (b) small businesses, as defined by section 131 of the economic devel-
 opment law, getting loans; and
   (c) minority- and women-owned  business  enterprises,  as  defined  by
 subdivisions  7  and  15  of  section  310 of the executive law, getting
 loans.
   2. The study shall examine topics to include, but not be limited to:
   (a) the ability of individuals in underbanked and underserved areas to
 receive, access, and use their stimulus payments;
   (b) changes in banking habits of individuals in underbanked and under-
 served areas;
   (c) closures or changes to hours,  staffing  levels,  or  services  in
 banks in underbanked or underserved areas;
   (d)  the  number of small businesses applying for loans; the number of
 small businesses receiving approval for such loans; and  the  amount  of
 money such small businesses have received in loans;
   (e)  the  number  of  minority-  and  women-owned business enterprises
 applying for loans; the number of  minority-  and  women-owned  business
 enterprises  receiving  approval for such loans; and the amount of money
 such minority- and women-owned business  enterprises  have  received  in
 loans;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10718-01-1

co-Sponsors

2021-A7324A (ACTIVE) - Details

See Senate Version of this Bill:
S6070
Law Section:
Financial Services

2021-A7324A (ACTIVE) - Summary

Directs the department of financial services to conduct a study on the impacts of the coronavirus (COVID-19) pandemic on underbanked and underserved areas and small businesses and minority- and women-owned business enterprises getting loans.

2021-A7324A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7324--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 5, 2021
                                ___________
 
 Introduced by M. of A. ANDERSON -- read once and referred to the Commit-
   tee  on  Governmental Operations -- reference changed to the Committee
   on Banks -- committee discharged, bill amended, ordered  reprinted  as
   amended and recommitted to said committee
 
 AN ACT directing the department of financial services to conduct a study
   on certain impacts of the coronavirus (COVID-19) pandemic
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. 1. The department of  financial  services  in  consultation
 with  the  empire state development corporation shall conduct a study on
 the financial impact of  the  coronavirus  (COVID-19)  pandemic  on  the
 following:
   (a) underbanked and underserved areas;
   (b) small businesses, as defined by section 131 of the economic devel-
 opment law, obtaining loans and other credit instruments; and
   (c)  minority-  and  women-owned  business  enterprises, as defined by
 subdivisions 7 and 15 of section 310 of  the  executive  law,  obtaining
 loans and other credit instruments.
   2. The study shall also examine topics including, but not limited to:
   (a) the ability of individuals in underbanked and underserved areas to
 receive, access, and use their stimulus payments;
   (b)  closures  or  changes  to  hours, staffing levels, or services in
 banks in underbanked or underserved areas;
   (c) the number of small businesses applying for loans; the  number  of
 small  businesses  receiving  approval for such loans; and the amount of
 money such small businesses have received in loans;
   (d) the number  of  minority-  and  women-owned  business  enterprises
 applying  for  loans;  the  number of minority- and women-owned business
 enterprises receiving approval for such loans; and the amount  of  money
 such  minority-  and  women-owned  business enterprises have received in
 loans;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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