State lawmakers are in recess for two weeks, but are expected to focus on issues with banking industry impact upon their return. In Washington this week, the CEOs of the largest banks sat for six hours of questioning before a House panel.
State Legislative Developments
o S.2245 (Sanders)/A.1940(Zebrowski), which would increase the number of withdrawal transactions allowed in basic banking accounts for account holders sixty-five years of age or older from eight to twelve transactions at no additional cost, moved through the Senate Banks Committee and was reported to the Senate floor. This bill has not yet moved in the Assembly, where it is assigned to the Assembly Banks Committee. NYBA is monitoring this bill.
o S.1864 (Gaughran)/A.4403 (McDonald), which reduces the tax redemption period for properties certified as vacant and abandoned from the local building department official from two years to one year, was reported from the Assembly Codes Committee. This bill has already passed the Senate.
Federal Legislative Developments
Federal Regulatory Developments
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