Issues: Banks

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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Legislative Notebook: State Initiatives of Interest to Veterans

Here is a partial listing of bills I have supported this session to aid New York’s former servicemen and servicewomen. These initiatives will now go to Governor Cuomo for final action.

-- Legislation I co-sponsored was passed by both houses (S.7839, first introduced as S.4714)) to extend the Military Service Credit Law of 2000 to all veterans who have served in the military. Right now, public employees who served in the armed forces may purchase up to three years of pension credit only if their military service occurred during specified conflicts. This measure will expand this opportunity to public employee veterans who also served their country in peacetime.

June 26, 2014
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Klein/Weinstein Bill Extending Critical Foreclosure Protections for Homeowners Signed into Law by Governor Cuomo

ALBANY, NY – On the final day of the legislative session, Senate Co-Leader Jeffrey Klein (D-Bronx/Westchester) and Assemblywoman Helene Weinstein announced that Governor Cuomo signed into law legislation extending vital foreclosure prevention measures and homeowner protections for an additional five years beyond the February 2015 expiration date.

June 23, 2014
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SENATOR RITCHIE WORKS TO REUNITE OWNERS TO THEIR ‘LOST FUNDS’

$15.5 Million Awaits 57,000 in Jefferson, Oswego, St. Lawrence Counties Local Governments are Missing Money Too

State Senator Patty Ritchie is working to reunite 57,000 Northern and Central New York residents—and some area local governments—with money they may not even know they were missing.

CLICK HERE TO START YOUR SEARCH

At Senator Ritchie’s request, the state Office of Unclaimed Funds created a list of abandoned or forgotten accounts—usually old bank accounts, rent or utility deposits, gift cards and other type of accounts—that the state is holding with owners’ addresses in the three counties she represents.

“By law, the state holds onto the funds in these accounts until they are claimed by their rightful owners,” Senator Ritchie said. “The problem is that most people don’t even know that they are missing money, and they don’t know where to look to find it.”

“It’s your money—you just have to ask for it back.”

June 18, 2014
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Senate Passes Package of Bills to Fight the Financial Exploitation of Senior Citizens

The New York State Senate has passed a package of eight bills to prevent criminals from using financial schemes to prey upon senior citizens. The measures were recommended in a report released by the Senate Majority Coalition in May that examined this growing issue that affects thousands of senior New Yorkers each year. The type of elder abuse relating to financial exploitation involves the illegal taking, misuse, or concealment of funds, property, or assets of a senior for someone else's benefit. It can result in the significant monetary loss for the victim, and in some cases, a person’s entire life savings. Financial exploitation can range from the theft of cash, to much more elaborate schemes. 

June 12, 2014
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Senator Griffo's Weekly Column #24: My Priority Legislation

As the Senate regular session comes to a close, I have redoubled my efforts to get my priority legislation passed before then.

In total, I’ve gotten 47 of my 119 bills passed so far this session. The Assembly has also passed 23 of those 47 bills, and the governor has signed 16 of them into law. Five are awaiting his review. I thank my colleagues for helping me achieve the success I’ve enjoyed so far.

Here’s my thinking. First and foremost, a good state legislator is an advocate for his constituents. I’m occasionally asked by local government to help them enact special laws that would only apply to them – a good example is the regular reauthorization of a local sales tax rate, which can help ease the property tax burden.

June 12, 2014
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Senate Passes Three Griffo Sponsored Bills

ALBANY - Sen. Joseph A. Griffo was the lead sponsor of three bills that today passed the State Senate. 

June 10, 2014
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State Senate Passes Klein Bill Extending Critical Foreclosure Protections for Homeowners

ALBANY, NY – Senate Co-Leader Jeffrey Klein (D-Bronx/Westchester) announced Wednesday that the State Senate voted 56 - 1 in favor of his legislation that would extend vital foreclosure prevention measures and homeowner protections for an additional five years beyond the February 2015 expiration date.

June 10, 2014
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Klein Announces Legislation Extending Critical Foreclosure Protections for Homeowners Set to Expire

BRONX, NY – Standing in front of the landmark Residential Foreclosure Center at Bronx County Courthouse, Senator Klein announced his push for an extension of critical foreclosure protections for New York homeowners, which are set to expire early next year.

June 6, 2014
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Protecting Seniors from Elder Abuse

There a major push in Albany to protect the elderly from financial abuse. According to state officials, more than ever before, elderly residents of New York State are now the target of scams and thefts. To protect consumers, State Senators Patrick Gallivan (R-Elma) and David Valesky (D-Oneida) are pitching new legislation. The series of bills would amend state law to toughen penalties for offenders and give banks the authority to reject financial transactions that appear to exploit the elderly. "Our goal shouldn't be to just reduce elder abuse, it should be to eliminate it," says Gallivan.

May 22, 2014
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Joseph Griffo, Chair 9:30 AM, Wednesday, May 21, 2014 Room 611 LOB

May 21, 9:30 AM - 9:36 AM
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Joseph Griffo, Chair 9:30 AM, Wednesday, May 7, 2014 Room 611 LOB

May 7, 9:30 AM - 9:37 AM
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Public Hearing: Presentation by Kevin Younis, Deputy Commissioner, Empire State Development Corporation, on START-UP NY Program

Senate Select Committee on Science, Technology, Incubation and Entrepreneurship 
Chair: Senator Martin Golden 
Public Meeting: Presentation by Kevin Younis, Deputy Commissioner, Empire State Development Corporation, on START-UP NY Program 
Place: Room 410, Legislative Office Building, Albany, New York 
Time: 4:00 P.M. 
Contact: Meg Brown (518) 455-2730 
Media Contact: John Quaglione (718) 238-6044 

 

April 28, 4:00 PM - 4:48 PM
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April 24, 2014
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SENATOR VALESKY HAILS PASSAGE OF FOURTH CONSECUTIVE ON-TIME STATE BUDGET

ALBANY, NY—State Senator David J. Valesky (D-Oneida) today lauded the passage of the state’s fourth and historic consecutive on-time budget. This has not been accomplished with the same Governor and legislative leaders in more than 40 years.

April 1, 2014
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Joseph Griffo, Chair 9:30 AM, Wednesday, March 26, 2014 Room 611 LOB

March 26, 9:30 AM - 9:33 AM
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GALLIVAN INVITES ERIE COUNTY AREA BUSINESS OWNERS AND ENTREPRENEURS TO TAKE PART IN SMALL BUSINESS SUMMIT IN SPRINGVILLE

ERIE COUNTY - New York State Sen. Patrick M. Gallivan (R-Elma), Deputy Republican Conference Leader for Economic Development, announced today that he is partnering with the Springville Area Chamber of Commerce to host a Small Business Summit for business owners, not-for-profits and entrepreneurs in the southern Erie County area.

The seminar will take place on Friday, May 2nd from 8:00 AM to 9:30 AM at Springville Country Club on Cascade Drive in Springville.

The program will feature an update on small business and economic growth initiatives being undertaken by Senator Gallivan in Albany and a presentation by professional business development consultant Frank Swiatek entitled “What Businesses Can Do For Themselves.”

March 2, 2014
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