What's happening
This bill increases penalties for robbery of property from banks and expands related felony provisions under New York law.
Why it matters
Expands the definition of felony robbery. to specifically include theft of property from a broad range of financial institutions—including banks, savings and loan associations, credit unions, and foreign banking corporations—making such crimes subject to more severe penalties.
Adds new grounds for denying banking licenses or certificates. by including convictions for this newly defined bank-related robbery felony, potentially barring individuals with such convictions from operating or being significantly involved in financial institutions.
Aims to deter bank-related thefts. by increasing the legal consequences and closing loopholes that may have previously allowed for lesser charges or penalties when property is stolen specifically from financial institutions.
May impact employment opportunities. in the financial sector, as individuals with these specific felony convictions will face stricter regulatory scrutiny, which could help enhance consumer trust and the perceived integrity of financial institutions.
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Headline styles
Increase Bank Robbery Penalties
Plain English, a few words. Used as the page title.
Sponsors
History
- Referred to banks
- Delivered to assembly
- Passed senateVote 54–6
- Advanced to third reading
- 2nd report cal.
- 1st report cal.178
- Referred to banks
- Returned to senate
- Died in assembly
- Referred to banks
- Delivered to assembly
- Passed senateVote 59–0
Show 4 earlier actions
- Advanced to third reading
- 2nd report cal.
- 1st report cal.293
- 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 Penalty
In Assembly Committee · Banks · Sponsor Charles Lavine
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2421
2017-2018 Regular Sessions
IN SENATE
January 13, 2017
Introduced by Sens. GRIFFO, AVELLA, BONACIC, DeFRANCISCO, FLANAGAN, FUNKE, LARKIN, MARCHIONE, RANZENHOFER, RITCHIE, ROBACH, SAVINO, SERI- NO, SEWARD -- read twice and ordered printed, and when printed to be committed 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 responsibility in connection with the revocation. The term "substantial stock-
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05234-01-7
S. 2421 2
holder", 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.
Sponsor's memo
Title of bill
An act to amend the banking law and the penal law, in relation to increasing the penalty for robbery of property from a bank
Purpose
To increase the penalties for robbery of a banking institution.
Summary of provisions
Sections 1 and 2 of the bill amend Sections 592(2) and 592-a(2) of the Banking Law, respectively, to expand the list of felony offenses for which the Superintendent of Banks may refuse to issue a license to a mortgage banker or a certificate to a mortgage broker.
Section 3 of the bill adds a new subdivision 4 to Section 160.10 of the Penal Law to expand the crime of robbery in the second degree to include property stolen from a banking institution.
Justification
Over the past decade, there has been an increase in the number of bank robberies committed throughout the State, especially crimes in which threatening notes and comments are made to bank tellers in conjunction with the robbery. Not only does this crime place employees and customers at risk, it imposes increased costs on all consumers.
One continuing problem is the apparent perception among many criminals that this is a relatively easy type of crime which is not punished as seriously as other types of crimes. By increasing the penalties for bank robbery, this legislation seeks to help address this problem. The bill would establish meaningful penalties to serve as an effective deterrent and as an appropriate level of punishment.
Legislative history
2015-16 - S. 2715 Passed Senate/A. 1786 - Banks Committee. 2013-14 - S. 3559 - Passed Senate/A. 2485 - Banks Committee.
Fiscal implications
None.
Effective date
The first of November next succeeding the date on which it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.