Bill > S06110

This bill establishes the Office of Financial Resilience within New York's banking department, led by a chief financial resilience officer and chief cooperative economist. The office will be responsible for developing and implementing innovative programs to support local economies through unique financial strategies, including creating community currencies, exploring blockchain-backed solutions, promoting cooperative and peer-to-peer economic models, connecting unmet community needs with resources, and even exploring ways to transform student debt into functioning currencies. Additionally, the office will conduct financial workshops, provide guidance to local communities interested in alternative economic systems, and advocate for blockchain startups focused on local economic development. The purpose is to help communities develop more flexible, collaborative, and resilient financial approaches that go beyond traditional economic models, with an emphasis on local empowerment and creative problem-solving.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S6110