Joseph A. Griffo's posts related to Banks

New York Senate Hearing on Cybersecurity

Joint - Senate Standing Committee on BanksChair: Senator Joseph GriffoSenate Standing Committee on Veterans, Homeland Security and Military AffairsChair: Senator Greg BallSenate Standing Committee on InsuranceChair: Senator James SewardSenate Standing Committee on Commerce, Economic Development and Small BusinessChair: Senator David ValeskySenate Select Committee on Science, Technology, Incubation and EntrepreneurshipChair: Senator Martin GoldenSenate Standing Committee on Crime Victims, Crime and Correction


ROME - Six Senate committees will hold a joint hearing at noon Monday to hear testimony from experts in law enforcement, finance and computer science about the state’s preparedness against cyber-attacks.

“Cyber crime is a major economic issue, resulting in more than $500 million in losses last year alone,” said Sen. Joseph A. Griffo, who chairs the Senate Banking Committee and is hosting the event. “There’s a reason why England considers it an even greater threat than nuclear war. We need to take a closer look at what our state is doing to prevent cyberattacks that could affect our security, our economy and our government.”


Senate Passes Three Griffo Sponsored Bills

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


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.


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.