Bill Text: NY S02295 | 2019-2020 | General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-01-23 - REFERRED TO BANKS [S02295 Detail]

Download: New_York-2019-S02295-Introduced.html

                STATE OF NEW YORK
                               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.