New York Codes, Rules and Regulations Title 3 - BANKING
New York Codes, Rules and Regulations (NYCRR) – Title 3: Banking
Title 3 of the NYCRR governs the New York State Department of Financial Services (DFS) in matters related to banking regulation. It outlines the rules for the chartering, supervision, operation, and enforcement of laws applying to state-regulated financial institutions.
📘 Overview of Title 3 – Banking
Title 3 includes regulations for:
🏦 Banking Organizations
Establishment and operations of:
State-chartered banks and trust companies
Savings banks
Savings and loan associations
Credit unions
Requirements for charters, branches, mergers, and conversions
📄 Supervision and Compliance
Regulatory reporting requirements
Examination procedures
Capital adequacy and lending limits
Compliance with anti-money laundering (AML) and Bank Secrecy Act (BSA) provisions
🔐 Consumer Protections
Truth-in-lending and fair lending practices
Debt collection guidelines
Foreclosure process rules
Restrictions on predatory lending
💳 Financial Products and Services
Mortgage lending and servicing
Check cashing and money transmission businesses
Student lending practices
Credit card and deposit account disclosures
🔍 Regulatory Actions and Enforcement
DFS investigations
Administrative hearings
Civil penalties and sanctions
Suspension or revocation of licenses
🔢 Sample Parts in Title 3
Some of the key parts commonly found in Title 3 include:
| Part | Subject |
|---|---|
| Part 1 | Applications for bank charters, mergers, and acquisitions |
| Part 6 | Loans to executive officers and principal shareholders |
| Part 38 | Community Reinvestment Act (CRA) performance |
| Part 70 | Mortgage Banker and Broker regulations |
| Part 80 | Licensed Lenders and Consumer Loans |
| Part 417 | Mortgage Loan Originator registration and conduct |
RELATED Blog
0 comments