New York A 5453: Authorizes the New York state department of financial services to oversee the planned closing of bank branch offices by federally chartered banking organizations

Bill Text

STATE OF NEW YORK
________________________________________________________________________
5453
2021-2022 Regular Sessions
IN ASSEMBLY
February 16, 2021
___________
Introduced by M. of A. DICKENS -- read once and referred to the Commit-
tee 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 banking organizations, the availabili-and federally chartered
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 (underscored) is new; matter in bracketsitalics
[ ] is old law to be omitted.
LBD04659-01-1