Senate BillIntroduced
S 3546: Exempts minority depository institutions which are subject to the Community Reinvestment Act of 1977 from report and document filing requirements with the superintendent of financial services for a period of ten years from commencement of business.
What S 3546 does, verified January 8, 2026
The bill aims to exempt minority depository institutions from certain filing requirements for a period of ten years. A minority depository institution is defined as a financial institution that is subject to the Community Reinvestment Act and meets specific criteria. This exemption will allow these institutions to operate without the need to file certain documents, providing them with greater flexibility and reducing regulatory burdens. The bill takes effect immediately.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: REFERRED TO BANKS (2026-01-07)Alert me
Quick answers about S 3546
- What is the current status of S 3546?
- As of January 8, 2026, S 3546 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "REFERRED TO BANKS".
- Did S 3546 pass?
- Not yet. S 3546 has been introduced and has not passed either house.
- Who wrote S 3546, and where is it now?
- S 3546 was authored by Sen. George Borrello. Its committee of record is Senate Banks.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | REFERRED TO BANKS |
| Jan. 28, 2025 | REFERRED TO BANKS |
Latest bill textIntroduced version, January 28, 2025 · 201 words
STATE OF NEW YORK ________________________________________________________________________ 3546 2025-2026 Regular Sessions IN SENATE January 28, 2025 ___________ Introduced by Sen. BORRELLO -- 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 exempting minority depository institutions from certain filing requirements The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 28-b of the banking law is amended by adding a new 2 subdivision 4-a to read as follows: 3 4-a. A minority depository institution as defined by section 308 of 4 the federal Financial Institution Reform, Recovery, and Enforcement Act 5 of 1989, to which the Community Reinvestment Act of 1977, United States 6 P.L. 95-128, applies, shall be exempt from the filing requirements set 7 forth in subdivision one of this section for a period of ten years from 8 the date such minority depository institution commences doing business. 9 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08085-01-5
Text of S 3546 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions