Grants the department of financial services jurisdiction over the financing of motor vehicles; requires motor vehicle dealer finance managers to be licensed by the department of financial services.
Requires a study of the utilization of state government payments as an opportunity to transition unbanked and underbanked state residents into the banking system; requires a report shall be compiled and provided on the findings no later than eighteen months after the effective date of this act.
Prohibits the state university of New York and the city university of New York from permitting any persons to solicit persons to become holders of credit cards unless credit education courses are provided.
Prohibits a bank or trust company from charging a service charge or requiring a minimum balance for attorney trust or IOLA accounts that are non-interest bearing in nature; defines attorney trust account.
Extends the effectiveness of provisions relating to limiting the check cashing exemption for national banks and other regulated entities to August 1, 2025.
Provides for the remote conduct of certain practices and procedures including meetings and notarizations utilizing electronic and/or audio-visual technologies.
Authorizes New York-chartered banking institutions to exercise any permitted powers of its counterpart federally or out-of-state chartered banking institutions.
Permits the submission of applications for banking development district designations regardless of the date the applicant opened, banks and trust companies need not have opened after December 31, 1996.
Provides for joint and survivorship accounts, provides that absent indication to the contrary, funds remaining in such an account upon the death of the depositor shall be deemed part of the depositor's estate.
Creates a banking development district working group to assess the banking development district program and provide an annual report to the governor and legislature on the strengths and weaknesses of such program; defines unbanked and underbanked.
Includes participation in a banking development district as a factor when assessing a banking institution's record of performance in relation to the Community Reinvestment Act of 1977.