Issues: Banks

MAJOR STATE BANKS AGREE TO WAIVE CONSUMER FEES IN AFTERMATH OF SANDY

Governor Andrew M. Cuomo announced that several major state-chartered banks have agreed to waive a number of fees and penalties in response to the impact on consumers by Storm Sandy. State-chartered banks that will drop the fees include M&T Bank, Apple Savings, Dime Savings Bank of Williamsburgh, Emigrant Savings Bank and New York Community Bank.

November 9, 2012
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August 2012 Newsletter - Credit Cards & College Students

Please click the file below to view the Credit Cards & College Students newsletter. 

File: 
Credit Cards & College Students

October 17, 2012
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Law360: NY Ahead of the Curve with Ban on Mortgage Rate-Based Pay

Law360 reports on a new law passed by Sen. Krueger  which bans a predatory lending practice that created instability in the mortgage market and contributed to the financial crisis. 

August 29, 2012
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Sen. Krueger Announces New Yield Spread Premium Ban Is Law

Gov. Cuomo signed Sen. Krueger's legislation banning "yield spread premiums," a predatory lending practice.

August 20, 2012
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Foreclosure Prevention Program to Offer Help to Bedford-Stuyvesant Homeowners; Mobile Command Center to Visit Community on July 14

Foreclosure Prevention Assistance Available to Homeowners at Department of Financial Services' Mobile Command Center During Family Health & Resource Day in Bedford Stuyvesant Restoration Plaza, 10 a.m. to 4 p.m., Saturday, July 14, 2012.

The Department of Financial Services, in partnership with Neighborhood Housing Services of Bedford-Stuyvesant, is reaching out to offer help to Bedford-Stuyvesant area homeowners in Brooklyn struggling to save their homes from foreclosure.

July 12, 2012
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SKELOS TAPS GALLIVAN AS NEW CHAIR OF COMMERCE, ECONOMIC DEVELOPMENT, AND SMALL BUSINESS COMMITTEE

Area Business Leaders Laud Choice of Western New York Senator  

ALBANY - Senate Majority Leader Dean G. Skelos (R-C-I, Rockville Centre) announced today that Senator Patrick M. Gallivan (R-C-I, Elma) has been appointed Chair of the Senate Standing Committee on Commerce, Economic Development and Small Business.

July 2, 2012
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SENATE UNVEILS “NEW JOBS-NY” JOB CREATION PLAN

Senator Patrick M. Gallivan and members of the Senate Republican Conference today continued their strong focus on job creation and economic growth by announcing that the Senate will pass legislation next week to implement the 2012 NEW JOBS-NY Job Creation Plan.

The Senate’s comprehensive plan will help create thousands of new private sector jobs by delivering tax relief to small businesses and manufacturers, reducing energy costs, and enacting major fiscal reforms to make New York State more economically competitive.

May 23, 2012
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Gallivan Forms Agriculture Advisory Board

Senator Will Utilize Panel of 24 Local Agriculture Professionals to Help Direct Agriculture Policy

Senator Patrick M. Gallivan (R,C,I – 59th District) announced the formation of his Agriculture Advisory Board today, comprised of 24 local residents from across the four counties that makeup the 59th State Senate District.

April 26, 2012
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Partners in Preservation -- Help Invest in New York City's Historic Sites

American Express and the National Trust for Historic Preservation have announced that New York City will be this year's location for Partners in Preservation, a community-based initiative to raise awareness of the importance of historic places.  The program will infuse $3 million in grants to preserve the city's historic buildings, icons, and landmarks.  As New York City's first-ever citywide grassroots preservation effort, the call-to-action program will enlist the aid of all New Yorkers, and anyone who loves New York, to vote online for the preservation projects most important to them.

April 20, 2012
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Joseph Griffo, Chair 9:30 AM, Wednesday, May 23, 2012 Room 611 LOB

May 23, 9:30 AM - 9:39 AM
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Governor Cuomo in Syracuse to Discuss Budget

I was pleased to join Governor Cuomo in discussing budget accomplishments for Central New York. Click the link for more details.

File: 
Gov Cuomo CNY Budget Presentation.pdf

April 5, 2012
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Senator Gallivan Addresses 2012 State Budget In Video Message

Senator Patrick M. Gallivan (R,C,I - 59th District) speaks to the taxpayers and families of Western New York concerning the just enacted 2012 State Budget.

April 4, 2012
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Bethpage Federal Credit Union Opens New Branch In West Babylon

Senator Owen H. Johnson joined employees of  Bethpage Federal Credit Union along with members of the Babylon Town Chamber of Commerce and other elected officials to celebrate the opening of the new Bethpage Federal Credit Union branch in West Babylon.  The official ribbon cutting ceremony took place on February 16, 2012 at the new branch location at 555 Montauk Highway, West Babylon in the Pathmark Shopping Center.

April 4, 2012
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State Passes Fiscally Responsible Budget That Respects Taxpayers

Budget Comes Early, Controls Spending and Holds The Line On Taxes

Senator Patrick M. Gallivan hailed the 2012 state budget today as lawmakers approved the spending plan ahead of the April 1st deadline, marking the second consecutive year New York State will enact an on-time budget.

“Passing a second on-time budget in as many years is indicative of the larger progress we’ve seen lately in Albany. Just as late budgets were once a symbol of dysfunction, on-time budgets are symbolic of continued progress,” the Senator said. “Even more important than passing an on-time budget, is that we passed a fiscally responsible budget that respects New York’s taxpayers and keeps the State moving forward.”

April 3, 2012
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Budget Update From State Senator David J. Valesky

The New York State Legislature has completed passage of an on-time budget for the second year in a row. Though it was another challenging budget, requiring the closure of a $3.5 billion deficit, we were able to balance the budget without tax increases or fiscal gimmickry. In addition, overall spending was reduced for the second straight year, the frist time this has happened in at least three decades. 

Some highlights include:

March 30, 2012
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Prohibit Brokers and Lenders From Deceiving Borrowers

News From New York StateSenator Shirley L.

March 30, 2012
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Governor Cuomo and Legislative Leaders Announce Agreement on 2012-13 State Budget

Governor Cuomo released the following announcement on March 27, 2012:

The Budget continues the Governor’s commitment to fiscal responsibility while creating jobs and strengthening communities across the state. It closes a multi-billion dollar deficit with no new taxes, fees or gimmicks, limits spending growth to two percent or below for the second year in a row, and launches the New York Works Task Force to invest billions of dollars to rebuild the state's roads, bridges, parks, and other infrastructure and create tens of thousands of jobs.

March 29, 2012
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Joseph Griffo, Chair 10:00 AM, Wednesday, March 28, 2012 Room 611 LOB

March 28, 10:00 AM - 10:28 AM
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Krueger Announces Senate Passage of Ban on “Yield Spread Premiums”, Predatory Lending Practice

Albany, NY – State Senator Liz Krueger (D-Manhattan) today announced the passage of her legislation permanently banning “yield spread premiums” in New York State (S. 886). This practice created perverse incentives in the mortgage market, fleecing families and creating instability in the nation’s financial system, ultimately contributing to the national mortgage foreclosure crisis.

March 22, 2012
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SENATE PASSES 2012-13 BUDGET RESOLUTION

Gallivan: “Senate Plan Cuts Taxes, Reforms Medicaid, Protects Seniors and Schools.”

The New York State Senate voted to approve its 2012-13 Senate Budget resolution, continuing its focus on state spending, job creation, and structural reform to government.

The Senate budget, at just under $132.5 billion, keeps the total state spending increase below two percent, and spends less than the Executive Budget. The budget closes a $2 billion budget deficit and builds on last year’s successes in putting the state’s fiscal house in order.

March 13, 2012
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