Requiring the dept of consumer affairs to study access to financial services.

A Local Law in relation to requiring the department of consumer affairs to study access to financial services

This bill would require the Department of Consumer Affairs to study access to banking and financial services throughout the City. This bill would require the study to focus on issues that banks face to open in unbanked and underbanked areas, and barriers that individuals, particularly low-income individuals and immigrants, face in accessing banking and other financial services. The bill would also require a report on the findings of the study to be submitted to the Mayor and the Speaker of the Council no later than one year after the effective date of the local law.