New YorkA 4212025-2026 Regular SessionHouseWALLET

Includes establishing a branch in a banking development district as a factor indicating that a bank is helping to meet the credit needs of its entire community for purposes of assessing such bank; repealer

Sponsored By: Khaleel Anderson (Democratic)

Became Law

BANKSRULES

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Opening a branch counts; joining alone doesn’t

New York now updates how it reviews banks on serving local credit needs. Opening a branch in a Banking Development District counts as a positive factor. Simply joining a district without opening a branch no longer counts. Regulators also consider a bank’s work in credit counseling. These changes take effect on the same day as the related 2024 law (S.6648/A.6090).

Sponsors & Cosponsors

Sponsor

Khaleel Anderson
Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 46 • No: 16

House vote • 2/5/2025

FLOOR Vote