Senate Bill S6270

Signed By Governor
2023-2024 Legislative Session

Relates to criteria for the establishment of banking development districts

download bill text pdf

Sponsored By

Current Bill Status Via A5516 - 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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2023-S6270 (ACTIVE) - Details

See Assembly Version of this Bill:
A5516
Law Section:
Banking Law
Laws Affected:
Amd §96-d, Bank L

2023-S6270 (ACTIVE) - Summary

Provides that a community which is underbanked shall be criteria for the establishment of banking development districts.

2023-S6270 (ACTIVE) - Sponsor Memo

2023-S6270 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6270
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              April 11, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- 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 criteria for the  estab-
   lishment of banking development districts
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 96-d of the banking law, as  added
 by  chapter 204 of the laws of 1997, the opening paragraph as amended by
 chapter 526 of the laws of 1998 and as further amended by section 104 of
 part A of chapter 62 of the laws of 2011, is amended to read as follows:
   1. There is hereby created a banking development district program, the
 purpose of which is to encourage the establishment of bank  branches  in
 geographic  locations  where  there  is  a demonstrated need for banking
 services. The superintendent of financial services shall,  in  consulta-
 tion  with  the department of economic development, promulgate rules and
 regulations, after public hearing  and  comment,  which  set  forth  the
 criteria  for  the  establishment of banking development districts. Such
 criteria shall include, but not be limited to, the following:
   (a) the  location,  number,  and  proximity  of  sites  where  banking
 services are available within the district;
   (b)  the  identification of consumer needs for banking services within
 the district;
   (c) the economic viability and local credit  needs  of  the  community
 within the district;
   (d) the existing commercial development within the district;
   (e)  the  impact  additional  banking services would have on potential
 economic development in the district; [and]
   (f) WHETHER A COMMUNITY IS IDENTIFIED AS UNBANKED  OR  UNDERBANKED  BY
 THE SUPERINTENDENT; AND
   (G)  such  other  criteria  which  the  superintendent  in  his or her
 discretion shall identify as appropriate.
   § 2. This act shall take effect immediately.

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

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