NEW YORK — New York State is looking at new structures for banks to handle a variety of sales-related business processes.
A draft version of the state’s sales department legislation was presented to lawmakers this week.
A final version is expected to be approved in the next two weeks, according to the bill’s text.
The bill, called the Sales Department Act, would create a sales-process-oriented sales structure that would include a sales division and the sales executive officer, among other things.
The state’s top financial regulators said it was an important step in building a sales department with greater independence.
“This will enable us to manage the complexity of the complex and changing business transactions and support greater market flexibility and efficiency,” said David E. Kapp, executive vice president of regulatory affairs at the New York Department of Financial Services.
State regulators are seeking to change the way banks are managed and to better align their functions.
Banks are currently divided into sales, customer service, banking and finance departments.
The sales department would serve as the center for a range of financial services, including sales taxes, payroll, credit card processing, and banking, and it would oversee the creation and management of all sales processes.
Banks are also under intense pressure to find ways to attract new customers to their products and services.
The current structure, which is currently based on an old model, is based on the idea that the bank needs to attract enough new customers by offering the same or similar services.
This structure is a huge departure from a traditional banking model, said Mark Mather, a senior vice president at consulting firm The Economist Intelligence Unit.
The changes could make it easier for banks and others to get new customers.
The current structure doesn’t allow a bank to offer the same service in the same place.
It’s important to keep a focus on getting the new customers, and not just attracting them to one bank, Mather said.
In addition to the bank sales department and the financial services department, the new structure would also include the customer service and customer support departments.
This bill, which will be introduced this month, is part of a larger effort by regulators to get more people to work for banks.
The proposed law is a first step toward overhauling the way the financial industry works.
It will require banks to give more information about their sales processes to customers, the New Jersey State Banking Commission said in a news release.
If approved, it could lead to a much simpler way for banks, as customers can find out what types of products and products they can expect to receive from a particular bank.
The Financial Services Agency is expected soon to release a new set of rules aimed at reducing the number of credit card processors and banks.
The agency said in its report to Congress that more information was needed to help banks more effectively sell products.