NYBA lauds the passage of new BSA/AML legislation that, importantly, does not create new compliance burdens for banks. A federal judge dealt a blow to the OCC’s plan to issue charters to fintechs.
Federal Legislative Developments
Federal Regulatory Developments
State Legislative Developments
State Regulatory Developments
New Initiative of the New York Federal Reserve to Boost Puerto Rico Development
NYBA President Mike Smith, NYBA staff members, colleagues from the New Jersey Bankers Association and the Federal Home Loan Bank of New York heard a presentation by senior Federal Reserve Bank of New York officials on a program to connect banks with investment opportunities to redevelop Puerto Rico. There is potential for CRA credit for associated projects. NYBA will be working with the New York Fed to broaden its outreach regarding the program in the weeks ahead
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