Exempts minority depository institutions from certain filing requirements for ten years.

New York S03546 amends the banking law to exempt minority depository institutions, which are subject to the Community Reinvestment Act of 1977, from report and document filing requirements with the superintendent of financial services. This exemption lasts for ten years from the date the institution begins business. The bill aims to reduce administrative burdens on these institutions.

Exempts minority depository institutions from certain filing requirements for ten years.

New York S03546 amends the banking law to exempt minority depository institutions, which are subject to the Community Reinvestment Act of 1977, from report and document filing requirements with the superintendent of financial services. This exemption lasts for ten years from the date the institution begins business. The bill aims to reduce administrative burdens on these institutions.