Authorizes the New York state department of financial services to oversee the planned closing of bank branch offices by federally chartered banking organizations.
STATE OF NEW YORK
________________________________________________________________________
2295
2019-2020 Regular Sessions
IN SENATE
January 23, 2019
___________
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.
LBD05842-01-9
