NYS Seal

ASSEMBLY STANDING COMMITTEE ON BANKS

NOTICE OF PUBLIC HEARING

SUBJECT:
To examine and discuss the role of the States in a new financial services regulatory scheme.

PURPOSE:
This hearing will seek to determine the appropriate role for New York State in a restructured financial services industry and whether an expanded role is necessary.

NEW YORK CITY
Friday
October 23, 2009
10:30 a.m.

250 Broadway
Assembly Hearing Room 1923, 19th Floor

In the wake of last year's near-collapse of the national economy, brought on in part by certain unsound practices in the financial services industry, Congress and the Obama Administration are in the process of devising a new regulatory regimen intended to prevent a recurrence. While the root cause of the problem was questionable practices in the residential mortgage industry, it was exacerbated by practices in the securities industry that were seemingly beyond the reach of state and federal regulators. Among the questions the Committee seeks to address are: what is the future of "dual banking system?" or, more specifically, what will be the role of the states in the new regulatory environment?

The Committee seeks testimony to determine the appropriate level of regulatory authority the State should exercise in order to protect New York financial services entities and consumers of financial services.

Assemblyman Darryl C. Towns,
Chair, Committee on Banks

Oral testimony will be limited to ten-minute durations. Fifteen copies of any prepared testimony should be submitted at the hearing registration desk. The Committee would appreciate advance receipt of prepared statements. Written testimony will also be accepted and may be sent to the contact persons listed on the reply form. In order to publicize the hearing further, please inform interested parties of the Committee's interest in receiving written testimony from all sources.

In order to meet the needs of those who may have a disability, the Assembly, in accordance with their policy of non-discrimination on the basis of disability, as well as the 1990 Americans with Disabilities Act (ADA), has made its facilities and services available to all individuals with disabilities. For individuals with disabilities, accommodations will be provided, upon reasonable request, to afford such individuals access and admission to Senate and Assembly facilities and activities.


PUBLIC HEARING REPLY FORM

Persons interested in presenting testimony at the public hearing to examine and discuss the role of the States in a new financial services industry to be held on October 23, 2009, or who wish to submit written testimony only, are requested to complete and return this reply form to:

Yolanda J. Bostic (Principal Committee Analyst)
Assembly Committee on Banks
New York State Capitol
Room 520
Albany, New York 12248
Phone: (518) 455-4928
Fax: (518) 455-5182
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I plan to attend the public hearing to examine and discuss the role of the States in a new financial services industry to be conducted by the Assembly Committee on Banks on October 23, 2009.
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I plan to make a public statement at the hearing. My statement will be limited to 10 minutes, and I will answer any questions that may arise. I will provide 15 copies of my prepared statement.
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I will address my remarks to the following subjects:


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I do not plan to attend the above hearing.
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I would like to be added to the Committee's mailing list for notices and reports.
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I would like to be removed from the Committee's mailing list.
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I will require assistance and/or handicapped accessibility information. Please specify the type of assistance required:


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