A 421: 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.

  
  STATE OF NEW YORK ________________________________________________________________________ 421 2025-2026 Regular Sessions  IN ASSEMBLY (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: 1 Section 1. Subparagraph 12 of paragraph (a) of subdivision 3 of 2 section 28-b of the banking law, as amended by chapter 264 of the laws 3 of 2019, is amended to read as follows: 4 (12) Other factors that, in the judgment of the superintendent, 5 reasonably bear upon the extent to which a banking institution is help- 6 ing to meet the credit needs of its entire community, including, without 7 limitation, the banking institution's participation in credit counseling 8 services or participation in a banking development district established 9 pursuant to section ninety-six-d of this chapter by establishing a 10 branch in such district. 11 § 2. Subparagraph 10-a of paragraph (a) of subdivision 3 of section 12 28-b of the banking law as added by a chapter of the laws of 2024 amend- 13 ing the banking law relating to including participation in a banking 14 development district as a factor when assessing a banking institution's 15 record of performance, as proposed in legislative bills numbers S. 6648 16 and A. 6090, is REPEALED. 17 § 3. This act shall take effect on the same date and in the same 18 manner as a chapter of the laws of 2024 amending the banking law relat- 19 ing to including participation in a banking development district as a 20 factor when assessing a banking institution's record of performance, as 21 proposed in legislative bills numbers S. 6648 and A. 6090, takes effect. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02856-01-5