NEW YORK — Herman ‘‘Denny’’ Farrell, a New York assemblyman who worked to make banking and finance more consumer-friendly and earned respect for working across the political aisle during 42 years in office, died Saturday, his family said. He was 86 and retired last year.

‘‘Denny exemplified the best of politics,’’ Democratic Governor Andrew Cuomo said Saturday in ordering flags on state office buildings to half-staff.

A Harlem Democrat, Mr. Farrell was first elected in 1975, chaired the Assembly banking committee for 15 years and headed the Ways & Means Committee for 23. He spearheaded legislation that required banks to offer low-cost checking accounts, created a free state-consumer hotline for credit-card rate and fee information, and sought to make customer solicitations from banks easier to understand. He was also known for his decorum and decency toward people across the political spectrum.