Courtesy of Jim Bopp, President of the Mortgage Bankers Association of Northeastern New York (MBA of NENY)…

Earlier this week the MBA of NENY testified before the NY State Assembly Banks Committee.  The testimony focused on the increase in the use of "Emergency Adoptions" of regulations vs. the Legislative process, and "Revenue Restructuring & New Assessments Schedules" that the Banking Department has levied upon the mortgage banking industry in New York State that will no doubt be represented in interest rates and fees charged to New York State homeowners.  

Attached are the following:
(1) Jim Bopp's testimony
(2) Letter Jim referenced in his testimony that the MBA of NENY sent to NY State Comptroller Alan G. Hevesi (and copied to Diana L. Taylor, Superintendent of Banking on 8/15/05)
(3) Link to Diana Taylor's testimony before the Assembly Banks Committee (December 12, 2005)
She testified that they are reducing their budget this year based on outcries from the industry.
Superintendent Taylor Testifies Before the State Assembly Banks Committee on the 2005 - 2006 Department Budgets
http://www.banking.state.ny.us/sp051212.htm

Other items of note, New York is about to lose 2 more large banks to Federal Charters (if the regulatory authorities do not stop making things so difficult they will all lose state charters to federal charters).

The other thing that is going on is that the OCC is in a fight with NY AG Elliot Spitzer to keep his hands off federally chartered banks and to not regulate or investigate them.