New York S03615 allows minority depository institutions in unbanked or underbanked communities to receive deposits from the state comptroller and the.

New York S03615 amends the banking law to allow minority depository institutions that apply to establish a home or branch office in an unbanked or underbanked community to receive deposits from the state comptroller and the commissioner of taxation and finance. The amount of such deposits will be determined jointly by the superintendent and the state comptroller. This authorization runs concurrently with the term of the designation of a banking development district approved by the superintendent.

New York S03615 allows minority depository institutions in unbanked or underbanked communities to receive deposits from the state comptroller and the.

New York S03615 amends the banking law to allow minority depository institutions that apply to establish a home or branch office in an unbanked or underbanked community to receive deposits from the state comptroller and the commissioner of taxation and finance. The amount of such deposits will be determined jointly by the superintendent and the state comptroller. This authorization runs concurrently with the term of the designation of a banking development district approved by the superintendent.