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DFS Order Helps Mutual Savings Banks And S&Ls

DFS Order Helps Mutual Savings Banks and S&Ls

Acting State Department of Financial Services (DFS) Superintendent Lacewell has issued an order using New York’s ‘wild card’ parity law to allow individuals to serve as directors of state-chartered mutual savings banks and savings and loan associations, regardless of  the  maximum age limitations  set forth in the Banking Law. 

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