The Banking Board
The Banking Board was established in 1932 by N.Y.S. Banking Law ยง 13 and 14, and was a quasi-legislative body. The Banking Board was created to advise and cooperate with the Banking Department in the formulation of banking standards and regulations and to exercise power to approve or disapprove the issuance of bank charters and licenses and the establishment of branch banks. The Board's powers were broad and affected many aspects of banking supervision.
In 2011, Governor Andrew M. Cuomo and the New York State Legislature abolished the Banking Board as part of the consolidation of the Banking Department and New York State Insurance Department and the creation of the New York State Department of Financial Services.
Read more about this topic: New York State Banking Department
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