The Assembly Banks Committee oversees the implementation and administration of programs within the banking industry. The Oversight, Analysis and Investigation Committee investigates and analyzes whether state laws and programs are implemented efficiently, effectively and in compliance with legislative intent.

In light of the on-going foreclosure crisis, engineered by predatory subprime loans, it is appropriate that financial literacy be at the forefront of the Committees' concerns. In addition, the New York Banking Development District (BDD) program was created to encourage the establishment of bank branches in traditionally underserved areas of the State. Presently, there are 38 BDD designations throughout the State (25 located in NYC, 4 in Buffalo, and 9 throughout the remainder of the State). With the continuation and expansion of this program, traditionally underserved neighborhoods will be provided access to basic mainstream financial services.

New York State was one of the first states to protect homebuyers by regulating mortgage loan originators (MLO's). Article 12-E of the Banking Law requires that persons who engage in mortgage loan originating must be registered by the Banking Department and meet initial and on-going educational requirements. Due to the restrictions set forth in Art 12-E concerning MLO, the mortgage industry within New York was better equipped and suffered less fraud then other States.

The Committee seeks testimony that will enable it to evaluate the implementation and preservation of the Banking Development District program; Mortgage Loan Origination and the most recently passed Mortgage Foreclosure bill A.40007/S.66007.

Persons wishing to present pertinent testimony to the Committees at the above hearing should complete and return the enclosed reply form as soon as possible. It is important that the reply form be fully completed and returned so that persons may be notified in the event of emergency postponement or cancellation.

Oral testimony will be limited to 10 minute durations. In preparing the order of witnesses, the Committees will attempt to accommodate individual requests to speak at particular times in view of special circumstances. These requests should be made on the attached reply form or communicated to Committee staff as early as possible. In the absence of a request, witnesses will be scheduled in the order in which reply forms are postmarked.

Ten copies of any prepared testimony should be submitted at the hearing registration desk. The Committees would appreciate advance receipt of prepared statements.

In order to further publicize these hearings, please inform interested parties and organizations of the Committees' interest in hearing testimony from all sources.

In order to meet the needs of those who may have a disability, the Assembly, in accordance with its policy of non-discrimination on the basis of disability, as well as the 1990 Americans with Disabilities Act (ADA), has made its facilities and services available to all individuals with disabilities. For individuals with disabilities, accommodations will be provided, upon reasonable request, to afford such individuals access and admission to Assembly facilities and activities.

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Persons wishing to present testimony at the public hearing on Banking Department Oversight and Analysis are requested to complete this reply form as soon as possible and mail it to:

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