Legislation Aims to Expand Bank Lending to Underserved Communities
Comptroller DiNapoli, State Senator James Sanders Jr. and State Assemblymember Khaleel Anderson held a press conference in support of legislation that would expand lending in underserved communities and help stimulate economic development.
The two bills, developed by Comptroller DiNapoli with the assistance of Senator Sanders, chairman of the Senate Committee on Banks, will make it easier for community and minority-owned banks to access state deposits that help provide essential banking services and increase financing for small businesses and homeowners.
“Supporting community and minority-owned banks and credit unions puts state funds to work in neighborhoods that have historically been overlooked,” said DiNapoli. “These funds will help expand financial services, increase access to capital and build wealth through homeownership, entrepreneurship and job growth. It is a win-win for the state and our local communities.”
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Flushing Businesses Reunited with Their Lost Money
Lunar New Year brings hope for good fortune, and Comptroller DiNapoli visited local, small businesses in Flushing Queens to present owners with unclaimed funds checks. Congresswoman Grace Meng, New York City Council Member Sandra Ung and Flushing Chinese Business Association’s Peter Tu joined him to return the lost money and visit the newly remodeled Flushing Library Auditorium.
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Comptroller DiNapoli Highlights State Pension Fund’s Economic Impact
At the Upstate Capital Impact Exchange hosted by Upstate Capital Association, Comptroller DiNapoli highlighted the New York State Common Retirement Fund’s role in driving New York’s economic development. As one of the nation's best-funded plans, the Fund utilizes a diversified, long-term strategy to invest in New York businesses that spur growth and job retention through the country’s most comprehensive state-focused investment program. The event also honored former OSC Deputy Director of Private Equity, Frank McEvoy, with a lifetime achievement award for his pivotal role in expanding the Fund’s private equity and venture capital support for New York businesses.
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