Bill > S02342

This bill amends the Banking Law to include low-income credit unions in the banking development district program in cities with a population of one million or more. Specifically, it allows savings banks, savings and loan associations, federal savings banks, and federal savings and loan associations, as well as low-income credit unions designated under Section 450-a of the Banking Law or by the National Credit Union Administration, to participate in the banking development district program in large cities. The bill also requires the Superintendent of Financial Services to promulgate rules and regulations to authorize the participation of these entities in the program.