Legislative Bill Tracking

State Issues

The Department of Financial Services released its final student loan servicer regulation this week. NYBA submitted a comment letter to DFS in September upon reviewing the draft proposed rule published in August. The final rule took effect upon its publication on October 16.

Federal Issues

The House is set to vote on two bank secrecy bills supported by NYBA. H.R. 2513, the Corporate Transparency Act, is New Yorker Carolyn Maloney’s (D-Manhattan) bill directing FinCen to create a national database that financial institutions would use to identify the beneficial owners of a company. A second bill, H.R. 2514, seeks to modernize the BSA/AML framework in various ways, including establishing stronger communications processes with law enforcement. NYBA has joined with its colleagues across the country in a letter to Members urging them to vote in favor of these bills.

For additional information on any of the State or Federal issues, 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