Bill > A00421

This bill amends the New York State banking law to include establishing a branch in a banking development district (BDD) as a factor that demonstrates a banking institution's efforts to meet the credit needs of its entire community. A banking development district is a designated area aimed at providing financial services to underserved communities. The bill modifies an existing section of the banking law that allows the superintendent of banking to consider various factors when assessing a bank's performance in serving its community. Specifically, the bill adds participation in a BDD by establishing a branch in such a district as an additional criterion for evaluating a bank's community credit service. The bill also repeals a previously proposed subparagraph related to this same assessment factor, suggesting a technical revision to how banking development district participation will be incorporated into performance evaluations. The changes are intended to provide more comprehensive ways of measuring a bank's commitment to serving all segments of its community, with a particular focus on potentially underserved areas.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A421