August 10, 2015
New York City's Responsible Banking Act requiring deposit banks to disclose how they serve low-income neighborhoods is preempted by state and federal law because it's geared more toward regulation than gathering information, a federal judge ruled Friday.
August 05, 2015
A Manhattan federal judge said Wednesday she would rule quickly on New York bankers' contention that the city's Responsible Banking Act requiring deposit banks to share data on how they provide for consumers in lower income neighborhoods is preempted by state and federal law and that it imposes undo compliance costs.