How A3144 changes current law

Requires 10% of the penalties imposed by the superintendent of financial services to be deposited in the community development financial institution fund · New York

How this bill changes current law

1 change

Compared against the New York Consolidated Laws as published AI-generated reading aid — verify against the official bill.

This bill amends 1 section(s) of the New York Consolidated Laws: Section 44 of the banking law.

  • Section 44 of the banking law

    10. Notwithstanding any provision of law to the contrary, ten percent of all penalties imposed and collected pursuant to this section shall be dedicated to and deposited into the community development financial institution fund established pursuant to subdivision three of section sixteen-o of the New York state urban development corporation act. (e) Notwithstanding any provision of law to the contrary, ten percent of all penalties imposed and collected pursuant to this section shall be dedicated to and deposited into the community development financial institution fund established pursuant to subdivision three of section sixteen-o of the New York state urban development corporation act. italics

    amended

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