N.Y. Comp. Codes R. & Regs. tit. 3 § 8.3

Current through Register Vol. 46, No. 53, December 31, 2024

Section 8.3 - Criteria for approval

In determining whether to approve an application for the designation of a banking development district, the superintendent shall take into consideration the following criteria:

(a) the location, number, and proximity to applicant's proposed site of sites where banking services are available within the proposed banking development district;

(b) the location, number, and proximity to applicant's proposed site of sites where banking services are available within a reasonable distance of the proposed banking development district;

(c) the identification of consumer needs for banking services within the proposed banking development district;

(d) the economic viability and local credit needs of the community within the proposed banking development district;

(e) the existing commercial development within the proposed banking development district;

(f) the impact additional banking services would have on potential economic development in the proposed banking development district;

(g) the physical size of the proposed banking development district;

(h) the nature of the community to be served, including, but not limited to, the demographic and economic characteristics of the proposed banking development district;

(i) the financial condition and managerial ability of the applicant bank as determined by the appropriate bank regulator or other reliable sources;

(j) compliance with all other applicable branching statutes and regulations;

(k) history of prolonged lack of service to the proposed banking development district; and

(l) such other criteria which the superintendent, in his or her discretion, shall identify as appropriate.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 8.3