Banks

The New York State Assembly Banks Committee manages legislation and oversight relating to the state’s banking and financial services sectors. The committee’s responsibilities include reviewing the regulation of state-chartered banks, credit unions, mortgage lenders, fintech, and consumer financial products. Its focus is on promoting a safe and competitive banking environment, consumer protection, and fair lending practices across New York.

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The Committee’s authority covers Banking Law (which governs banks, credit unions, and licensed lenders), General Business Law (banking consumer protection), and relevant parts of Financial Services Law, Insurance Law, and Real Property Law (mortgage regulation and foreclosure). It ensures that laws and regulations align with modern financial practices and guard against fraud, discrimination, and instability in the financial system.

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Assembly Member Clyde Vanel serves as Chair. The Ranking Member is typically a senior Republican legislator, and the committee comprises approximately 31 members. The Banks Committee generally meets during the legislative session, often on Tuesdays, to review bills and conduct hearings; specific dates may vary, and the current roster is available on the Assembly’s website.