NYDFS has announced a proposed regulation allowing banks to collect data concerning banking services offered to Minority and Women-Owned Businesses (MWBE) under the Community Reinvestment Act. From Superintendent Harris: “Banks must meet the needs of all consumers, including minority and women business owners, who historically have been denied fair access to credit,” said Superintendent of Financial Services Adrienne A. Harris. “This revised regulation ensures DFS has the necessary data to verify that banks are providing equitable access to financial products, creating a fairer financial system.”
The proposed regulation may be found here: https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202210261