Assembly Bill A421

2025-2026 Legislative Session

Includes establishing a branch in a banking development district as a factor indicating that a bank is helping to meet the credit needs of its entire community for purposes of assessing such bank; repealer

download bill text pdf

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Current Bill Status - In Senate Committee Rules 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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2025-A421 (ACTIVE) - Details

See Senate Version of this Bill:
S812
Current Committee:
Senate Rules
Law Section:
Banking Law
Laws Affected:
Amd §28-b, rpld §28-b sub 3 ¶(a) sub¶ 10-a, Bank L (as proposed in S.6648 & A.6090)

2025-A421 (ACTIVE) - Summary

Includes establishing a branch in a banking development district as a factor indicating that a banking institution is helping to meet the credit needs of its entire community for purposes of assessing such banking institution.

2025-A421 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    421
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced by M. of A. ANDERSON -- read once and referred to the Commit-
   tee on Banks
 
 AN ACT to amend the banking law, in relation to including establishing a
   branch in a banking development district as a factor indicating that a
   banking  institution is helping to meet the credit needs of its entire
   community  for  purposes  of  assessing  such  banking   institution's
   performance;  and  to  repeal  certain provisions of such law relating
   thereto
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraph  12  of  paragraph  (a)  of subdivision 3 of
 section 28-b of the banking law, as amended by chapter 264 of  the  laws
 of 2019, is amended to read as follows:
   (12)  Other  factors  that,  in  the  judgment  of the superintendent,
 reasonably bear upon the extent to which a banking institution is  help-
 ing to meet the credit needs of its entire community, including, without
 limitation, the banking institution's participation in credit counseling
 services  OR PARTICIPATION IN A BANKING DEVELOPMENT DISTRICT ESTABLISHED
 PURSUANT TO SECTION NINETY-SIX-D  OF  THIS  CHAPTER  BY  ESTABLISHING  A
 BRANCH IN SUCH DISTRICT.
   §  2.  Subparagraph  10-a of paragraph (a) of subdivision 3 of section
 28-b of the banking law as added by a chapter of the laws of 2024 amend-
 ing the banking law relating to including  participation  in  a  banking
 development  district as a factor when assessing a banking institution's
 record of performance, as proposed in legislative bills numbers S.  6648
 and A. 6090, is REPEALED.
   §  3.  This  act  shall  take  effect on the same date and in the same
 manner as a chapter of the laws of 2024 amending the banking law  relat-
 ing  to  including  participation in a banking development district as a
 factor when assessing a banking institution's record of performance,  as
 proposed in legislative bills numbers S. 6648 and A. 6090, takes effect.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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