Career
He was previously the Chairman of the Assembly Committee on Banks, from 1979 to 1994. During his time in the State Legislature Assemblyman Farrell has played a pivotal role in the passage of several significant pieces of legislation, including the Omnibus Consumer Protection and Banking Legislation Acting, which established a toll-free number at the New York State Banking Department that dispenses information about cr card interest rates, fees and grace periods, and a mandate for banks to furnish low-cost checking accounts to its customers. He also played a pivotal role in the passage of the Neighborhood Preservation Companies Acting, whereby New York State funds community organizations that "provide tenant advocacy."
He was first elected as a Democratic State Committeeman in 1970, serving a two-year term.
Subsequently, he was elected as the Leader of the New York County Democratic Party (1981) and Vice-Chair of the New York State Democratic Party, in which capacity he served for a decade.
He was Chairman of the New York State Democratic Committee from 2001 to 2006. In 1985, Farrell made an unsuccessful bid to unseat Mayor Edward I. Koch in the Democratic primary for Mayor.
