New York S 4798: Authorizes the New York state department of financial services to oversee the planned closing of bank branch offices by federally chartered banking organizations

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S04798 Summary:

BILL NOS04798 

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SAME ASNo Same As

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SPONSORSANDERS

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COSPNSR

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MLTSPNSR

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Amd §28-c, Bank L

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Authorizes the New York state department of financial services to oversee the planned closing of bank branch offices by federally chartered banking organizations.

Go to top S04798 Actions:

BILL NOS04798 

&nbsp

02/12/2025REFERRED TO BANKS

01/07/2026REFERRED TO BANKS

Go to topS04798 Committee&nbspVotes:

Go to topS04798 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04798 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4798

 2025-2026 Regular Sessions

 IN SENATE

 February 12, 2025
 ___________

 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 federally chartered
 banking organizations

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The opening paragraph of subdivision 1 of section 28-c of
 2 the banking law, as amended by chapter 180 of the laws of 2012, is
 3 amended to read as follows:
 4 This section is intended to provide the superintendent with detailed
 5 information concerning the planned closing of branch offices by state-
 6 chartered and federally chartered banking organizations, the availabili-
 7 ty of alternative financial services within the general area served by
 8 such branch and the economic impact upon the community resulting from
 9 such closing, and to provide the superintendent with authority to
 10 conduct meetings with banking organizations and community groups in
 11 areas where a branch closing is planned. The requirements of this
 12 section shall not apply to the following:
 13 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09615-01-5

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