New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 3. Banking |
Supervisory Policies and Procedures |
General |
Supervisory Procedure 112 Report of Planned Branch Closings |
Sec. 112.4. Findings of superintendent; consultations by superintendent
Latest version.
- The superintendent shall make a finding as to whether or not the proposed branch closing will result in a significant reduction of financial services in the community to be affected. Such findings shall be made public. If the superintendent finds that the availability of financial services in the community will be significantly reduced by the closing of the branch office, he shall be authorized to conduct such meetings with banking organizations and community leaders as are necessary, in his judgment, to explore the feasibility of replacing such branch with other adequate banking facilities.