New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 76 - Compliance With Community Reinvestment Act Requirements
Section 76.2 - Definitions
Current through Register Vol. 46, No. 12, March 20, 2024
For purposes of this Part, the following definitions apply:
(a) Affiliate means any company, including a subsidiary, that controls, is controlled by, or is under common control with another company.
(b) Area median income means:
(c) Assessment area means a geographic area delineated in accordance with section 76.6 of this Part.
(d) Banking institution means a New York State-chartered commercial bank, trust company, savings bank, savings and loan association or FDIC insured branch of a foreign bank.
(e) Branch means a staffed banking facility approved as a branch, whether shared or unshared, including, for example, a mini-branch in a grocery store or a branch operated in conjunction with any other local business or nonprofit organization.
(f) Community development means:
(g) Community development loan means a loan that:
(h) Community development service means a service that:
(i) Consumer loan means a loan to one or more individuals for household, family, or other personal expenditures. A consumer loan does not include a home mortgage, small business, or small farm loan. Consumer loans include the following categories of loans:
(j) Geography means a census tract delineated by the United States Bureau of the Census in the most recent decennial census.
(k) Home mortgage loan means a home improvement loan, a home purchase loan, a multi-family loan or a refinance loan, including a refinance loan involving a modification, extension and consolidation agreement.
(l) Home state means the state where a state-chartered multi-state banking institution is chartered.
(m) Host state means a state other than the home state of a multi-state banking institution where the banking institution maintains a branch.
(n) Income level includes:
(o) Limited purpose bank means a banking institution that offers only a narrow product line (such as credit card or motor vehicle loans) to a regional or broader market and for which a designation as a limited purpose banking institution is in effect.
(p) Loan location. A loan is located as follows:
(q) Metropolitan division means a metropolitan division as defined by the Director of the Office of Management and Budget.
(r) Minority means a natural person who is American Indian or Alaska Native, Asian, Black or African American, Native Hawaiian or Other Pacific Islander, and/or Hispanic or Latino.
(s) Minority-owned business means a business more than 50 percent of the ownership or control of which is held by one or more minority individuals.
(t) MSA means a metropolitan statistical area as defined by the Director of the Office of Management and Budget.
(u) Multi-state banking institution means a banking institution that maintains branches in one or more host states.
(v) Qualified investment means a lawful investment, deposit, membership share, or grant that has as its primary purpose community development.
(w) Principal owner means any natural person who owns 25 percent or more of the equity interest of a business.
(x) Regulation BB of the Board of Governors of the Federal Reserve System means Part 228 of Title 12, Code of Federal Regulations, Parts 220 to 299 Banks and Banking (revised as of January 1, 2006). (This publication may be viewed at the New York City office of the Department of Financial Services located at One State Street, New York, NY 10004, and the Department of State located at One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231. It is published by the Office of the Federal Register, National Archives and Records Administration and is for sale by the U.S. Government Publishing Office, Superintendent of Documents, Mail Stop: SSOP, Washington, DC 20402-9328.)
(y) Small banking institution.
(z) Small business loan means a small business loan as defined in Regulation BB of the Board of Governors of the Federal Reserve System ( 12 CFR part 228 ). This definition is based on the size of the loan.
(aa) Small farm loan means a small farm loan as defined in Regulation BB of the Board of Governors of the Federal Reserve System ( 12 CFR part 228 ). This definition is based on the size of the loan.
(bb) Wholesale banking institution means a banking institution that is not in the business of extending home mortgage, small business, small farm, or consumer loans to retail customers, and for which a designation as a wholesale banking institution by the appropriate Federal regulatory authority is in effect.
(cc) Women-owned business means a business more than 50 percent of the ownership or control of which is held by one or more women.