Nolan Appointed to Leadership of Banks Committee

February 11, 2003

Assemblywoman Catherine Nolan is pleased to announce that Speaker Sheldon Silver has just appointed her to serve as the Chairwoman of the Assembly's powerful Banks Committee.

Nolan had previously served as the Chairwoman of the Assembly's Labor Committee where she was successful in passing over fifty new laws to assist working people. Among the new laws that Nolan authored are the Unpaid Wages Prohibition Act, the Nurses Whistleblower Protection Act and numerous laws to strengthen sweatshop enforcement. In addition, during her tenure, Nolan secured funding for the first occupational safety and health clinic in Queens and the first Jobs for Youth program in western Queens.

At the Public Employees Conference's Annual Legislative conference recently in Albany, Speaker Sheldon Silver stated that Assemblymember Nolan has "gone on to bigger and better things."

"I am pleased and proud that Speaker Silver has appointed me to lead this powerful and important committee. I intend to focus the committee's efforts on enhancing consumer protections and maintaining a competitive balance among banking institutions," said Nolan.

The Assembly's Standing Committee on Banks is responsible for reviewing and initiating legislation that affects financial institutions that either operate in or whose actions affect New York State. The Committee's statutory purview includes the Banking Law, the General Obligations Law, the Uniform Commercial Code, and the Personal Property Law. Entities under the jurisdiction of the Banking Law include banks, trust companies, savings banks, savings and loan associations, credit unions, bank holding companies, safe deposit companies, employee welfare funds, sales finance companies, licensed lenders, licensing cashing of checks, mortgage brokers, mortgage bankers, insurance premiums, finance agencies and foreign and private banks.

"As Speaker Silver said though “my heart will always be in labor”, it is a great privilege to move up in the Assembly to chair this committee. I look forward to this new challenge," concluded Nolan.