The state Department of Financial Services is to conduct a study of underbanked communities and households and make recommendations to improve financial services access. According to Gov. Kathy Hochul’s office many residents can’t get a bank account and have to use alternative and riskier financial services such as payday loans.
Source:
https://www.governor.ny.gov/news/governor-hochul-signs-legislation-boosting-consumer-protections-and-addressing-inequities