2010 New York Code
BNK - Banking
Article 2 - (10 - 45) BANKING DEPARTMENT; SUPERINTENDENT OF BANKS; SUPERVISORY AND REGULATORY POWERS
28-B - Credit needs of local communities.

§ 28-b. Credit needs of local communities. 1. Each banking institution
  as  defined  in  subdivision four of this section to which the Community
  Reinvestment Act of 1977, United States P.L. 95-128, applies shall  file
  with  the  superintendent a copy of each report and document which it is
  required to prepare for or  file  with  one  or  more  federal  agencies
  pursuant  to  the  provisions  of that law and the rules and regulations
  promulgated thereunder. Where  a  banking  institution  has  filed  such
  reports  or  documents with the superintendent, an update of the reports
  or documents shall be required at such time as the  banking  institution
  requests  the  superintendent  to  take any action on any application to
  which the provisions of subdivision three of this section apply.
    2. A special committee is hereby created to consist of  seven  members
  to  be  appointed  as  follows:  three members shall be appointed by the
  governor, two members shall be appointed by the temporary  president  of
  the  senate  and  two  members  shall be appointed by the speaker of the
  assembly. The chairman of  the  committee  shall  be  appointed  by  the
  governor.  The  members appointed to such committee shall be chosen from
  consumer groups, banking institutions, business and labor  organizations
  and  other  groups representative of the public-at-large. Such committee
  shall receive from the superintendent all reports furnished pursuant  to
  this  section  and such other information as the superintendent may deem
  relevant. Such committee shall  review  such  reports  and  the  current
  lending  and  investment policies of banking institutions, and not later
  than February first, nineteen hundred  eighty,  shall  make  an  interim
  report to the governor and to the legislature, and a final report to the
  governor and the legislature not later than November fifteenth, nineteen
  hundred   eighty.  Such  reports  may  contain  recommendations  of  the
  committee in legislative form.
    3. (a) When taking any action on an  application  made  by  a  banking
  institution under section one hundred five, two hundred twenty-four, two
  hundred  forty, or three hundred ninety-six of this chapter for a branch
  office or under section one hundred ninety-one of  this  chapter  for  a
  public  accommodation  office or under section six hundred one-b of this
  chapter for approval or disapproval of a merger or purchase  of  assets,
  or  taking  any  action  on  a notice submitted by a banking institution
  under section one hundred five-a, two hundred forty-a or  three  hundred
  ninety-six-a of this chapter for the use or installation of an automated
  teller machine, point-of-sale terminal or similar electronic facility or
  on  any  other  application  to which the banking board shall by rule or
  regulation  make  applicable  the  provisions  of  this   section,   the
  superintendent   shall  take  into  account,  among  other  factors,  an
  assessment, in writing, of the record  of  performance  of  the  banking
  institution in helping to meet the credit needs of its entire community,
  including  low  and  moderate-income neighborhoods, consistent with safe
  and sound operation of the banking institution. Such assessment and  any
  written   communications  from  the  banking  department  to  a  banking
  institution relating to such assessment shall be made available  to  the
  public upon request, provided that nothing contained in this subdivision
  shall  be deemed to alter, amend or affect the provisions of subdivision
  ten of section thirty-six of this chapter. In making such assessment the
  superintendent shall review all reports and documents filed pursuant  to
  subdivision  one  of  this  section  and  any  signed,  written comments
  received by the superintendent which specifically relate to the  banking
  institution's  performance  in  helping  to meet the credit needs of its
  community. In addition, the superintendent shall consider the  following
  factors in assessing a banking institution's record of performance:
    (1)  Activities  conducted  by  the  banking  institution to ascertain
  credit needs of its community,  including  the  extent  of  the  banking

institution's  efforts  to  communicate  with  members  of its community
  regarding the credit services being provided by the banking institution;
    (2)  The  extent  of  the  banking institution's marketing and special
  credit-related programs to make members of the community  aware  of  the
  credit services offered by the banking institution;
    (3)  The extent of participation by the banking institution's board of
  directors or board of trustees in formulating the banking  institution's
  policies  and  reviewing its performance with respect to the purposes of
  the Community Reinvestment Act of 1977;
    (4) Any practices intended to  discourage  application  for  types  of
  credit set forth in the banking institution's Community Reinvestment Act
  Statement(s);
    (5)  The  geographic  distribution of the banking institution's credit
  extensions, credit applications and credit denials;
    (6) Evidence of prohibited  discriminatory  or  other  illegal  credit
  practices;
    (7)  The  banking  institution's record of opening and closing offices
  and providing services at offices;
    (8) The banking institution's participation, including investments, in
  local community development and redevelopment projects or programs;
    (9) The banking  institution's  origination  of  residential  mortgage
  loans,  housing  rehabilitation  loans, home improvement loans and small
  business or small farm loans within its community  or  the  purchase  of
  such loans originated in its community;
    (10)      The      banking      institution's     participation     in
  governmentally-insured,  guaranteed  or  subsidized  loan  programs  for
  housing, small businesses or small farms;
    (11)  The  banking  institution's  ability  to  meet various community
  credit needs based on its financial condition, size, legal  impediments,
  local economic condition and other factors;
    (11-a)  The geographic distribution, availability and use of automated
  teller machines, point-of-sale  terminals,  personal  computer  banking,
  debit  cards  or  similar  electronic  facilities  or  services; and any
  training  of  customers  thereon  among  every  branch  of  the  banking
  institution,  if  the  institution  offers  such  services to any of its
  customers; and
    (12) Other factors that, in the judgment  of  the  superintendent  and
  banking  board,  reasonably  bear  upon  the  extent  to which a banking
  institution is helping to meet the credit needs of its entire community,
  including, without limitation, the banking  institution's  participation
  in credit counseling services.
    (b)  In  assessing  the record of performance of a banking institution
  pursuant to the provisions of paragraph (a)  of  this  subdivision,  the
  superintendent  may,  where  he or she deems it appropriate, provide for
  public  hearings  when  an  objection  to  the   banking   institution's
  application or notification has been submitted.
    (c)  An  assessment  of  a banking institution's record of performance
  under paragraph (a) of this subdivision may be the basis for denying  an
  application or notice under the provisions of this section.
    (d)  When  taking  any  action  pursuant  to  paragraph  (a)  of  this
  subdivision, the superintendent shall  request  from  the  applicant  or
  notificant  banking  institution  and  from the appropriate federal bank
  regulatory authorities any documents, other than those  required  to  be
  filed  with  the  superintendent  by this section or by other applicable
  statutes or regulations, which are  (1)  filed  with  the  federal  bank
  regulatory  authorities  in connection with the application or notice or
  (2) produced by the  applicant  or  notificant  banking  institution  or
  others in connection with the application or notice.

4.  Notwithstanding  any other provision of this chapter or law to the
  contrary, the term banking institution when used in this  section  shall
  mean  and include all banks, trust companies, savings banks, savings and
  loan  associations,  credit  unions  and  foreign  banking  corporations
  incorporated,  chartered,  organized  or licensed under the laws of this
  state.
    5. The  banking  board  is  hereby  authorized  and  empowered,  by  a
  three-fifths   vote   of  all  its  members,  to  promulgate  rules  and
  regulations effectuating the provisions of this section,  including  any
  rules   and   regulations  providing  that  the  assessment  of  banking
  institutions referred to in subdivision three of this section  shall  be
  made on a graduated numerical basis.
    6.  If  any  clause,  sentence, paragraph, subdivision or part of this
  section or the application thereof to any person, firm, or  corporation,
  or circumstance shall be adjudged by any court of competent jurisdiction
  to  be  invalid  or  unconstitutional,  such  judgment shall not affect,
  impair or invalidate the remainder thereof, but shall be confined (i) in
  its operation to the clause, sentence, paragraph, subdivision,  or  part
  of  this  section  or  (ii)  in  its  application to the person, firm or
  corporation, or circumstance, directly involved in  the  controversy  in
  which such judgment shall have been rendered.