New York Banking Agency Business Name Approval

NEW YORK BUSINESS NAME RESTRICTED WORDS AND BANKING DEPARTMENT CONTACT INFORMATION

What words are restricted for business names in New York that needs approval from the Banking Agency?

“Acceptance;” “bank;” “finance;” “investment;” “loan;” “mortgage;” “savings;” “trust”
“guaranty” (must be approved by both the Banking and Insurance Departments)

How to request approval from the New York Banking Department for use of restricted word:

To obtain approval, you must submit by email, fax or mail a detailed letter:

• describe in plain language: the business activities of the entity in New York
• attest either to the status of any registration, license, charter or other authorization under New York Banking Law that the corporation must obtain in order to do business in this State; or that no registration, license, charter or other authorization is necessary to conduct that business in this State.
• provide evidence of business name, if applicable (a photocopy of that portion of the entity’s proposed or current Certificate of Incorporation or Certificate of Good Standing, evidencing the entity’s name).
• the person who submits the letter concerning the business activities of the entity must certify that he/she has knowledge of the facts and shall certify that the description of the listed business activities is, to the best of his/her knowledge, true and accurate.
• if the person attesting to the fact that a license, charter, registration or other authorization is or is not required by the entity seeking name approval is a duly licensed attorney, such person shall certify that such attestation is, to the best of his/her knowledge, true and correct. If such person is not a duly licensed attorney, such person shall certify that such attestation is made upon information and belief.
• provide your contact information.

Is there a fee to request approval of your business name from the New York Banking Department?

There is no fee required by the Banking Department for approval of business names.

Expedited service is not available.

How long will it take them to process the request for approval?

Normal Processing: 10 working days, plus additional time for return mailing.
Fax Processing: 10 working days, plus additional time for return mailing.
Email Processing: 10 working hours, plus additional time for return mailing.

You will receive a response letter by first class mail.

How to contact the New York Banking Agency:

New York State Banking Department
Attn: Name Approval
One State Street, Legal Division
New York, NY 10004-1417
Phone: 212-709-1645
Fax: 212-709-1655
Website: New York State Banking Agency

We provide New York registered agent services. We provide comprehensive online tools to make managing your business entity easy. You can sign up for immediate service online and the forms and filing instructions are in your online account immediately. We scan everything into your online account for easy management of your company documents.