Utica, NY – New York State Assemblywoman Marianne Buttenschon today convened a Financial Institutions
Forum in the 119th Assembly District, bringing together local banking leaders, credit unions, and financial service
providers to address the challenges and opportunities facing the Mohawk Valley’s financial sector.
The forum, held at Conference Room A & B at the Utica State Office Building, welcomed special guest
Assemblyman Clyde Vanel, Chair of the Assembly Committee on Banks, who joined Buttenschon in leading
discussions on strengthening financial institutions, improving access to banking services, and supporting small
businesses and working families in the region.
“This forum was about listening to the voices of our local financial institutions and working
collaboratively to find real solutions,” said Assemblywoman Buttenschon. “Our banks and credit unions
are not only the backbone of our local economy; they are trusted partners for families, farmers, and
small businesses. I’m deeply grateful to Chairman Vanel for joining us today and for his dedication to
ensuring that state policies reflect the needs of communities like ours.”
Throughout the morning, representatives from area banks and credit unions held important discussions on issues
such as fraud protection, financial literacy, and the concerns surrounding public banking. Local banks and credit
unions also shared insights on how they continue to support small businesses, families, and farmers across the
Mohawk Valley.
Assemblyman Vanel emphasized the importance of forums like this in shaping statewide policies:“This forum
showed the importance of collaboration between financial institutions, community leaders, and lawmakers. We
must make sure that financial institutions, both on the local, state, and national level have the tools to better
serve families and businesses both large and small. We must also make sure that New Yorkers are protected and
informed when it comes to financial products and services. I am grateful to Assemblywoman Buttenschon for
convening such a large and engaged group of financial services stakeholders and I thank them for the
thoughtful discussions we were able to have.”
The forum provided a platform for open dialogue between local bank leaders, credit unions, financial service
providers and lawmakers, fostering collaboration and highlighting innovative solutions tailored to the Mohawk
Valley’s unique needs.
Assemblywoman Buttenschon, who chairs the Assembly Small Business Committee, reaffirmed her commitment
to advocating for policies that support financial institutions while protecting consumers.
DISTRICT OFFICE: Room 401, State Office Building, 207 Genesee Street, Utica, New York 13501 • 315-732-1055, FAX: 315-732-1413
ALBANY OFFICE: Room 528, Legislative Office Building, Albany, New York 12248 • 518-455-5454, FAX: 518-455-5928
EMAIL: buttenschonm@nyassembly.gov
“Strong financial institutions mean stronger communities. I will continue working closely with my
colleagues in Albany, including Chairman Vanel, to ensure our local banks have the tools they need to
grow, innovate, and serve the people of the Mohawk Valley,” she said.
This forum is part of Buttenschon’s ongoing effort to bring state leaders and community representatives together
to find practical solutions that uplift working families, support local institutions, and strengthen the future of
Central New York.
About Assemblywoman Marianne Buttenschon
Assemblywoman Buttenschon represents the 119th District in the New York State Assembly, serving communities
in the Mohawk Valley. She is a dedicated advocate for small businesses, rural communities, and economic growth
initiatives, ensuring local voices are heard in Albany.
About Assemblyman Clyde Vanel
Assemblyman Clyde Vanel represents the 33rd Assembly District in Queens and serves as Chair of the Assembly
Committee on Banks, where he works to strengthen the state’s financial sector, protect consumers, and support
banking innovation across New York State.
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Agenda:
10:00 AM – Opening Remarks & Introductions
Assemblywoman Marianne Buttenschon opens the forum and welcomes participants.
She introduces Assemblyman Clyde Vanel, Chair of the Assembly Committee on Banks.
10:10 AM – Remarks from Assemblyman Clyde Vanel
Overview of current legislative priorities and policy topics for banking in New York State.
10:25 AM – Suggested Guided Discussion Topics
Discussion will focus on a series of topics with open feedback encouraged from attendees:
● Legislative Feedback: Attendee input on bills passed, pending, or that only passed one house
in the 2025 legislative session.
● GENIUS Act & Federal Crypto Legislation: How will financial institutions interact with
stablecoins? Signed by President Trump on July 18, 2025
● Public Banking Act
○ A.6268 (Vanel)/S.1992 (Sanders)
● AI & Lending: Responsible use of artificial intelligence in lending decisions.
○ A.773-B (Rosenthal)/S.8115-B (Sanders)
● Small Business Lending: How can banks and credit unions better serve their communities?
● Banking Development Districts (BDD): Strengthening the BDD program to expand access in
underserved areas.
○ A.5167 (Anderson)/S.2027 (Sanders)
○ A.8705 (Vanel)/S.8199 (Sanders)
○ S.8357 (Sanders)
11:15 AM – Open Floor Discussion
Participants are invited to raise additional issues, share institutional experiences, offer suggestions, or
propose new ideas for state policy consideration.
11:50 AM – Closing Remarks
DISTRICT OFFICE: Room 401, State Office Building, 207 Genesee Street, Utica, New York 13501 • 315-732-1055, FAX: 315-732-1413
ALBANY OFFICE: Room 528, Legislative Office Building, Albany, New York 12248 • 518-455-5454, FAX: 518-455-5928
EMAIL: buttenschonm@nyassembly.gov
Banking Topic Related Bills
Public Banking:
A.6268 (Vanel)/S.1992 (Sanders)
Establishes the "New York public banking act"; authorizes municipal and other local
governments to form and control public banks through the ownership of capital stock or
other ownership interests, and to loan or grant public funds or lend public credit to such
public banks for the public purposes of achieving cost savings, strengthening local
economies, supporting community economic development, and addressing infrastructure
and housing needs for localities.
AI & Lending
A.773-B (Rosenthal)/S.8115-B (Sanders)
Relates to the use of automated lending decision-making tools by banks for the purposes
of making lending decisions; allows loan applicants to consent to or opt out of such use.
Banking Development Districts:
A.421 (Anderson)/S.812 (Sanders)
Includes establishing a branch in a banking development district as a factor indicating
that a banking institution is helping to meet the credit needs of its entire community for
purposes of assessing such banking institution.
***CHAPTER AMENDMENT***
**Signed by Governor 2/14/2025**
A.5167 (Anderson)/S.2027 (Sanders)
Creates a banking development district working group to assess the banking development
district program and provide an annual report to the governor and legislature on the
strengths and weaknesses of such program; defines unbanked and underbanked.
**Passed Senate 2/24/2025**
A.8705 (Vanel)/S.8199 (Sanders)
Directs the department of financial services to conduct a study on the banking
development district program and to make recommendations to improve such program.
**Passed Senate 6/5/2025**
S.8357 (Sanders) / No Same-as
Relates to a deposit placement program for the Banking Development District Program;
Allows a bank, in the discretion of the comptroller and the commissioner of taxation and
finance, to arrange for the redeposit of moneys, in whole or in part, through a deposit
placement program.
***State Comptroller Bill #14***
**Passed Senate 6/9/2025**
Organizations in Attendance at the Financial Institutions Forum
– NBT Bank
– Community Bank, N.A.
– Adirondack Bank
– Bank of Utica
– KeyBank
– Solvay Bank
– GPO Federal Credit Union
– AmeriCU Credit Union
– First Source Federal Credit Union
– Mohawk Valley Federal Credit Union
– New York Credit Union Association (NYCUA)
– Berkshire Bank
– Independent Bankers Association of New York State (IBNYS)
– Greater Utica Chamber of Commerce
