What's happening
This bill increases penalties for robbery involving property stolen from banks and related financial institutions in New York.
Why it matters
Expands what qualifies as a serious robbery. By adding a new subdivision to the robbery law, the bill makes any robbery involving property stolen from banks, credit unions, and similar financial institutions automatically subject to more severe penalties, regardless of the value of the property stolen.
Targets a broad range of financial institutions. The amendment covers not only New York-based banks but also out-of-state and foreign banks with branches in New York, increasing the legal risks for individuals targeting any such institution.
Affects financial professionals’ eligibility. Those convicted under the new, stricter bank robbery provision can be denied licenses or certifications to work in New York’s financial industry, even if the conviction occurred in another state, potentially impacting future employment in banking and related fields.
May deter bank-related robberies and increase prosecution leverage. By elevating the legal consequences for bank robberies, prosecutors gain a stronger tool for charging offenders, which could act as a deterrent and lead to harsher sentences for those convicted.
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Who cares
Headline styles
Increase Bank Robbery Penalty
Plain English, a few words. Used as the page title.
Sponsors
16 Co-sponsors
History
- Referred to banks
- Referred to banks
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Increase Bank Robbery Penalties
In Assembly Committee · Banks · Sponsor Joseph A. Griffo
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2729
2017-2018 Regular Sessions
IN ASSEMBLY
January 23, 2017
Introduced by M. of A. LAVINE, JENNE, SIMANOWITZ, WEPRIN, PERRY, MONTES- ANO, ZEBROWSKI, BRINDISI, BRABENEC, SKOUFIS, WOERNER, LUPINACCI, MOSLEY -- Multi-Sponsored by -- M. of A. CURRAN, FRIEND, HAWLEY, LOPEZ, LUPARDO, McDONALD, McLAUGHLIN, PALMESANO, RA, RAIA, SOLAGES -read once and referred to the Committee on Banks
AN ACT to amend the banking law and the penal law, in relation to increasing the penalty for robbery of property from a bank
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 2 of section 592 of the banking law, as amended by chapter 472 of the laws of 2008, is amended to read as follows:
2. The superintendent may refuse to issue a license pursuant to this article if he or she shall find that the applicant, or any person who is a director, officer, partner, agent, employee, substantial stockholder of the applicant, consultant or person having a relationship with the applicant similar to a consultant, (a) has been convicted of a crime involving an activity which is a felony under this chapter or under article one hundred fifty-five, one hundred seventy, one hundred seventy-five, one hundred seventy-six, one hundred eighty, one hundred eighty-five, one hundred eighty-seven, one hundred ninety, two hundred, two hundred ten or four hundred seventy, or subdivision four of section 160.10 of the penal law or any comparable felony under the laws of any other state or the United States, provided that such crime would be a felony if committed and prosecuted under the laws of this state or (b) has had a license or registration revoked by the superintendent or (c) has been a director, partner, or substantial stockholder of an entity which has had a license or registration revoked by the superintendent or (d) has been an agent, employee or officer of an entity, or a consultant to, or person having had a similar relationship with, any entity which has had a license or registration revoked by the superintendent where such person shall have been found by the superintendent to bear respon-
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05234-01-7
A. 2729 2
sibility in connection with the revocation. The term "substantial stockholder", as used in this subdivision, shall be deemed to refer to a person owning or controlling directly or indirectly ten per centum or more of the total outstanding stock of a corporation.
§ 2. Subdivision 2 of section 592-a of the banking law, as amended by chapter 472 of the laws of 2008, is amended to read as follows:
2. The superintendent may refuse to issue a certificate pursuant to this article if he or she shall find that the applicant, or any person who is a director, officer, partner, agent, employee, substantial stockholder of the applicant, consultant or person having a relationship with the applicant similar to a consultant, (a) has been convicted of a crime involving an activity which is a felony under this chapter or under article one hundred fifty-five, one hundred seventy, one hundred seventy-five, one hundred seventy-six, one hundred eighty, one hundred eighty-five, one hundred eighty-seven, one hundred ninety, two hundred, two hundred ten or four hundred seventy, or subdivision four of section 160.10 of the penal law or any comparable felony under the laws of any other state or the United States, provided that such crime would be a felony if committed and prosecuted under the laws of this state or (b) has had a license or registration revoked by the superintendent or (c) has been a director, partner, or substantial stockholder of an entity which has had a license or registration revoked by the superintendent or (d) has been an agent, employee or officer of an entity, or a consultant to, or person having had a similar relationship with, any entity which has had a license or registration revoked by the superintendent where such person shall have been found by the superintendent to bear responsibility in connection with the revocation. The term "substantial stockholder", as used in this subdivision, shall be deemed to refer to a person owning or controlling directly or indirectly ten per centum or more of the total outstanding stock of a corporation.
§ 3. Subdivision 3 of section 160.10 of the penal law, as added by chapter 308 of the laws of 1995, is amended and a new subdivision 4 is added to read as follows:
3. The property consists of a motor vehicle, as defined in section one hundred twenty-five of the vehicle and traffic law[.]; or
4. The property is stolen from a bank, trust company, savings bank, safe deposit company, savings and loan association or credit union, as such terms are defined in section two of the banking law, or from a foreign banking corporation licensed pursuant to article two of the banking law, or from a bank, trust company, savings bank, savings and loan association, credit union or foreign banking corporation which is incorporated, chartered, organized or licensed under the laws of any other state or the United States and which maintains branch offices in this state.
§ 4. This act shall take effect on the first of November next succeeding the date on which it shall have become a law.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
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