NY S 5565C

New York is also responding to the current crisis by advancing public bank legislation. On July 10, New York State Sen James Sanders Jr and 13 co-sponsors submitted an amended Senate Bill 5565 C. The bill would “create a safe and appropriate regulatory framework for cities and counties seeking to establish public banks. The bill additionally would allow the Department of Financial Services (DFS) to issue special-purpose public bank charters.” The action followed on the heels of a recent NYS Town Hall that included several PBI Advisory Board members as panelists.

Read the text of 5565 C here.