Governor Cuomo signed into law A.3320 (Zebrowski)/S.727A (Montgomery), which amends the Banking Development District (BDD) program to allow credit unions into the program with authority to accept municipal deposits in BDD branches only. NYBA opposed this bill and sent a letter to the Governor urging disapproval earlier this week. The law took effect immediately upon signing.
For more information, please contact:
Michael P. Smith, President, NYBA, at (212) 297-1699
Clare M. Cusack, General Counsel, at (212) 297-1664
Megan Rowan McGovern, Deputy General Counsel & VP, Government Relations, at (212) 297-1669