Issues: Banks

Senate Passes Valesky-Sponsored Elder Financial Abuse Legislation

Albany, NY - Legislation sponsored by Senator David J. Valesky (D-Oneida) protecting seniors from financial abuse passed the Senate June 15, which was also World Elder Abuse Awareness Day.

June 16, 2015
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State Senate Passes Klein & Savino Bills to Combat Predatory Auto Lending Practices in New York State

Albany, NY— Independent Democratic Conference Leader State Senator Jeff Klein (D-Bronx/Westchester) and State Senator Diane Savino (D-Staten Island/Brooklyn) announced Tuesday that the State Senate passed two critical pieces of legislation they sponsor aimed at  predatory subprime auto lending in New York.

Senator Klein’s bill (S.5485A) increases required surety bonds used car dealerships must hold as a consumer protection from $10,000 to $100,000 if the used car dealership sells more than 50 cars annually. Smaller used car dealers can take out $20,000 bonds if they sell fewer than 50 vehicles a year.

June 16, 2015
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SENATE PASSES GRIFFO BILL TO PROVIDE EMERGENCY ACCESS TO MEDICAL MARIJUANA

ALBANY – The New York State Senate on Monday passed legislation authored by Senator Joseph Griffo that would help certain critically ill patients obtain emergency access to medical marijuana.

June 16, 2015
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks  Senator Diane Savino, Chair  9:30 AM, Wednesday, June 3, 2015  Room 511 LOB

June 3, 9:30 AM - 9:33 AM
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Senator Klein & Assemblywoman Weinstein call on Legislature to pass “zombie properties” act

Albany, NY— State Senator Jeff Klein (D-Bronx/Westchester) and Assemblywoman Helene Weinstein (D-Brooklyn) called on their colleagues today to pass the Abandoned Property Neighborhood Relief Act (S.4781/A.6932), which would require bank and mortgage companies to prevent residential properties in foreclosure from falling into disrepair — and would carry penalties for companies that neglect these homes.

The renewed call from Senator Klein and Assemblywoman Weinstein, who sponsor the legislation, comes on the heels of an announcement today by Governor Andrew Cuomo that 11 bank, mortgage and credit unions will voluntarily comply to maintain “zombie properties.”

May 18, 2015
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks  Senator Diane Savino, Chair  9:30 AM, Wednesday, May 13, 2015  Room 511 LOB

Printed No.

Sponsor

Title

3616  Refer to Finance

Funke

An act to amend the banking law and the state finance law, in relation to credit unions

4304

May 13, 9:30 AM - 9:36 AM
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Senators Klein & Savino Reveal Top Predatory Subprime Auto Lending Practices in New York

Investigative report proposes legislative remedies to tricky tactics, fraudulent practices and deceptive scams unscrupulous city car dealers are using to prey on financially vulnerable New Yorkers

File: 
Full Report

April 30, 2015
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Senators Klein & Savino Reveal Top Predatory Subprime Auto Lending Practices in New York

Investigative report proposes legislative remedies to tricky tactics, fraudulent practices and deceptive scams unscrupulous city car dealers are using to prey on financially vulnerable New Yorkers

April 30, 2015
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Senator Klein Discusses the Sub-Prime Auto Loan Issue at Hearing Held By Senate Committee on Banks

State Senator Jeff Klein along with Senator Diane Savino and the Senate Banks Committee examine the sub-prime auto loan and auto title loan industry at a hearing on Wednesday to determine possible legislative and/or regulatory solutions. The Committee spoke with experts to determine how to best protect consumers from harmful business practices without impeding on financing options for low-income individuals. 

April 22, 2015
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Senator Gallivan to Sponsor A.G. Schneiderman's Payroll Card Act

Attorney General Eric T. Schneiderman today announced that Assembly Majority Leader Joseph Morelle and Senator Patrick Gallivan will sponsor the Attorney General’s program bill regulating the use of payroll cards to increase protections for workers, clarify ambiguities in the law, and ensure that payroll cards offer a convenient and beneficial method for workers to access their pay.

April 7, 2015
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Senator Comrie's remarks on the Senate Budget Resolution

Senator Comrie spoke on the Senate Floor in support of additional resources to assist Queens homeowners affected by the foreclosure crisis. Decrying insufficient funding diverted from the half a billion dollars the State won from the JP Morgan Chase settlement, Senator Comrie advocated that monies received from the settlement be used for those most affected by bad banking and lending practices.

March 20, 2015
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Public Hearing: An Examination of Predatory Lending Practices within the sub-prime auto loan and auto title loan industry

Senate Standing Committee on Banks
Chair: Senator Diane J. Savino
Public Hearing: An Examination of Predatory Lending Practices within the sub-prime auto loan and auto title loan industry
Place: Van Buren Hearing Room A, Legislative Office Building, 2nd Floor,
Albany, New York
Time: 10:00 A.M. – 2:00 P.M.
Contact: Barbara O’Neill (518) 455-2405
Media Contact: Barbara O’Neill (518) 455-2405
ORAL TESTIMONY BY INVITATION ONLY

April 23, 10:00 AM - 2:00 PM
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Diane Savino, Chair 9:30 AM, Wednesday, March 4, 2015 Room 124 CAP

PLEASE NOTE CHANGE IN LOCATION OF COMMITTEE MEETING

March 4, 9:30 AM - 9:34 AM
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State Senator Gustavo Rivera Hosts Black History Month Celebration

 In honor of the countless contributions that African-Americans have made to our country, State Senator Gustavo Rivera, the Montefiore Health System, Health First and the Claremont Community Center will host a Black History Month Celebration on Saturday, February 7th from 12:00 PM to 2:00 PM.

February 7, 12:00 PM - 2:00 PM
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Chanukah is the celebration of Miracles!

"Chanukah is the celebration of miracles, a reminder that all things are possible," Senator Parker said.  "As you celebrate the spirit of Chanukah with friends and family, I wish you health, happiness and good fortune." The holiday celebrates a legendary victory of the Maccabees, a band of Jews, over a Greek army that occupied the Holy Land.  After the battle, the victorious Maccabees found only a one day supply of oil in the temple to light the lamps.  But the oil burned miraculously for eight days, the story says.

December 17, 2014
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Senator Ted O'Brien's statement on the Bank of America settlement

ROCHESTER, N.Y. – Senator Ted O’Brien released the following statement on the Bank of America settlement that will bring $300 million to New York State:

“The $300 million New York will receive from the Bank of America settlement should go towards upstate property tax relief by reducing the cost burden on local school districts which have been devastated by the Gap Elimination Adjustment. We cannot afford to continue balancing school district budgets on the backs of local property tax payers, and must take action immediately to give hardworking families and small businesses the property tax relief they need.”

-30- 

August 22, 2014
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Senator Griffo's Weekly Column #28: What To Do With An Extra $4.2 Billion

Recently, a French bank named BNP Paribas admitted laundering $190 billion through financial institutions in our state. The money was originating in Sudan and Iran, two countries blacklisted by ours for their support of terrorist organizations.

The bank is paying a huge fine - $8.9 billion – for its crimes. Our state is receiving $3.6 billion from the settlement. It’s one of five financial settlements that will, together, bring in $4.2 billion in unexpected revenue in the 2015 fiscal year.

August 7, 2014
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SENATE REPUBLICANS LAUNCH BOLD PLAN TO INVEST OVER $3 BILLION BNP BANK SETTLEMENT TO KEEP STATE MOVING FORWARD

Senate Republicans launched a bold and far-reaching plan to invest over $3 billion from the BNP Paribas bank settlement, return money to hardworking taxpayers and keep New York State moving forward.  This comprehensive and fiscally responsible budgeting approach will accelerate planned tax cuts to give New Yorkers the relief they need and deserve as soon as possible, make key infrastructure investments to create new jobs across the state and provide historic assistance to local schools and property taxpayers.

July 10, 2014
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SENATOR AVELLA INTRODUCES NEW BILL AIMED AT STRICTER OVERSIGHT OVER BANK BRANCH CLOSURES

The bill was introduced in response to local Capital One branch closing earlier last year without any input from local residents

June 30, 2014
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