Senate Bill S812

Signed By Governor
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

Sponsored By

Current Bill Status Via A421 - 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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2025-S812 (ACTIVE) - Details

See Assembly Version of this Bill:
A421
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-S812 (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-S812 (ACTIVE) - Sponsor Memo

2025-S812 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    812
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 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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