New York state department of financial services to oversee the planned closing of bank branch offices by federally chartered banking organizations.

New York S04798 amends the banking law to require the New York state department of financial services to oversee the planned closing of bank branch offices by federally chartered banking organizations. This includes providing detailed information about the planned closings, the availability of alternative financial services, and the economic impact on the community. The superintendent is also granted authority to conduct meetings with banking organizations and community groups in areas where a branch closing is planned. The act takes effect immediately.

New York state department of financial services to oversee the planned closing of bank branch offices by federally chartered banking organizations.

New York S04798 amends the banking law to require the New York state department of financial services to oversee the planned closing of bank branch offices by federally chartered banking organizations. This includes providing detailed information about the planned closings, the availability of alternative financial services, and the economic impact on the community. The superintendent is also granted authority to conduct meetings with banking organizations and community groups in areas where a branch closing is planned. The act takes effect immediately.