New York S 3546: Exempts minority depository institutions from certain filing requirements

Bill Text

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S03546 Summary:

BILL NOS03546 

&nbsp

SAME ASNo Same As

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SPONSORBORRELLO

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COSPNSR

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MLTSPNSR

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Amd §28-b, Bank L

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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.

Go to top S03546 Actions:

BILL NOS03546 

&nbsp

01/28/2025REFERRED TO BANKS

01/07/2026REFERRED TO BANKS

Go to topS03546 Committee&nbspVotes:

Go to topS03546 Floor&nbspVotes:

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

Go to topS03546 Text:

 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

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