Issues: Banks

Senator Jose Peralta Urges President Obama to Nominate Dr. Elizabeth Warren as Director of the Consumer Financial Protection Bureau

Click here to view Senator Peralta's letter to President Obama.

“As the Chair of the New York State Senate’s Consumer Protection Committee and State Senator representing over 300,000 New Yorkers, I have seen firsthand the devastating effects these challenging economic times have had on Americans. These distressing financial problems are often times compounded by the fact that many consumers simply do not know their rights and in many cases because they have been victims of predatory credit products.

August 3, 2010
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Senator Peralta Calls on Governor Paterson to Sign Mortgage Bill of Rights Legislation Prompted by Record Number of Foreclosures

Senator Jose Peralta, Assemblymember Hakeem  Jeffries and Comptroller John Liu are calling on Governor Paterson to sign the Mortgage Bill of Rights  Legislation, requiring  mortgage lenders and brokers to provide consumers with a detailed  document explaining the mortgage process and consumer rights and protections.  This bill will ensure that consumers receive ample information before they begin the voluminous mortgage  process. 

July 27, 2010
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Foreclosure Prevention

News From Senator Shirley L. HuntleyFor Immediate Release: July 8, 2010Contact: Ami Shah | shah@senate.state.ny.us | (518) 455-3531

Senate Moves To Empower Homeowners Facing ForeclosureLaw penalizes lenders who fail to engage in good-faithforeclosure settlement negotiations

Senator Shirley L. Huntley (D-Jamaica) along with the State Senate has passed legislation (S.7798A) empowering homeowners facing foreclosure to take action when lenders fail to meet their obligation of entering into good-faith settlement negotiations at “settlement conferences.”

July 7, 2010
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KLEIN FIGHTS FOR HOMEOWNERS AGAINST UNNECESSARY INSURANCE COSTS

Throggs Neck seniors Lenore and Dominick Marano avoided being charged more than a thousand dollars in unnecessary insurance costs thanks to State Senator Jeff Klein (D-Bronx/Westchester). Klein worked with the Maranos' mortgage lender to help fight a nearly $1,400 increase in their annual flood insurance premium.

 

This spring, the Maranos received a letter from their bank with whom they have a mortgage stating that their flood insurance had to be dramatically extended. The letter said that their yearly flood insurance premium would double. Upon receiving this information, the Maranos immediately contacted Senator Klein’s office.

 

July 7, 2010
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Majority Prevents Unfair Costs On Debit Card Purchases

The Senate Democratic Majority has extended an important safeguard to consumers, approving legislation protecting shoppers from paying an extra and unfair charge when they use debit cards to make purchases.  

June 30, 2010
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Senator Foley Increases Penalty for ATM Theft

Senator Brian X. Foley (D – Blue Point) sponsored legislation (S5536-A), which passed the senate last week, that extends the crimes covered by grand larceny in the second and third degrees.

The legislation extends the charge of grand larceny in the third degree to include stealing an automated teller machine (ATM) or the contents of such a machine. It also extends the charge of grand larceny in the second degree to include stealing an ATM or its contents when the suspect has committed grand larceny in the third degree within the previous 5 years.

June 25, 2010
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“ACCESS TO JUSTICE IN LENDING” ACT PASSES BOTH HOUSES OF STATE LEGISLATURE

Legislation Will Level the Legal Playing Field for Homeowners Facing Foreclosure

 

June 23, 2010
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SENATOR KRUEGER SUCCESSFULLY AMENDS FORECLOSURE LAW TO HELP OWNERS

For Immediate Release | June 15, 2010

Katie Kincaid | kincaid.nysenate@gmail.com | 646-784-0485

(Albany, NY) – In an effort to help homeowners who are fighting foreclosure, State Senator Liz Krueger successfully sponsored and passed new legislation (S7798A) which would amend the New York State Foreclosure Prevention and Responsible Lending Act to further ensure that homeowners have an adequate opportunity to prevent foreclosure through fair, good-faith judiciary hearings.

June 16, 2010
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Brian Foley, Chair 10:00 AM, Wednesday, June 16, 2010 Room 124 CAP

June 16, 10:00 AM - 11:00 AM
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Senator Foley Passes Bill to Modernize Banking Law

Senator Brian X. Foley (D – Blue Point) sponsored legislation (S7444), which passed the senate this week, that would modernize banking laws relating to unissued shares and shareholder preemptive rights.

June 10, 2010
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Senator Foley Extends Check Cashing Law

Senator Brian X. Foley (D – Blue Point) sponsored legislation (S6699), which passed the Senate this week, that extends the sunset date of legislation aimed at protecting check cashing facilities.

June 10, 2010
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Brian Foley, Chair 10:00 AM, Wednesday, June 9, 2010 Room 124 CAP

June 9, 10:00 AM - 11:00 AM
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The Mortgage Foreclosure Crisis

One of the issues that I began to see hitting a tipping point during the time I was running for the Senate two years ago was the mortgage foreclosure situation. In the time since then, it has shifted from reaching a tipping point to outright crisis. My office receives calls on a daily basis from individuals who are fighting to save their homes. Fortunately, we have been able to help many of these residents.

 

June 3, 2010
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Brian Foley, Chair 10:00 AM, Wednesday, May 26, 2010 Room 124 CAP

May 26, 10:00 AM - 11:00 AM
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Committee Meeting: Banks Meeting

Senate Standing Committee on Banks Senator Brian Foley, Chair 9:00 AM, Tuesday, May 18, 2010 Room 124 CAP

May 18, 9:00 AM - 10:00 AM
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Senator Foley Hosts Second Successful Foreclosure Prevention Event

On Saturday, May 1st, State Senator Brian X. Foley (D – Blue Point) hosted a major foreclosure prevention event in Mastic Beach that helped hundreds of homeowners facing home foreclosure. The event, modeled after a similar one held last November in Central Islip, featured major lenders who conducted one-on-one conferences with homeowners and worked towards loan modifications as an alternative to foreclosures.

May 13, 2010
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Senate Approves Members To Key Budget, Banking, Health And Environmental Boards

The New York State Senate confirmed 24 appointees to key boards today, including members to the Independent Authorities Budget Office, Port Authority of New York and New Jersey, Port of Oswego Authority, Public Employment Relations Board, State Banking Board, Great Lakes Protection Fund, Republic Airport Commission, Medical Advisory Committee, Advisory Council on Alcoholism and Substance Abuse Services, Citizen’s Policy and Complaint Review Council, Continuing Care Retirement Community Council, Minority Health Council, State Hospital Review and Planning Council and Board of Visitors Broome

April 13, 2010
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New Foreclosure Law to Save Homes and Preserve Neighborhoods

Sweeping foreclosure regulations to finish going into effect April 15

Law will require banks to maintain foreclosed properties and make it easier for homeowners to avoid foreclosure

April 7, 2010
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April 13, 5:00 PM - 8:00 PM
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Senator Foley to Host Foreclosure Prevention Event at William Floyd High School

On Saturday, May 1st from 10 am – 4 pm, Senator Brian X. Foley will host a mortgage foreclosure prevention event at William Floyd High School located at 240 Mastic Beach Road, Mastic Beach, NY 11951.

May 1, 10:00 AM - 4:00 PM
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