Bill > S05097

This bill modifies existing banking and penal laws to increase penalties and provide additional protections for financial institutions. Specifically, the bill updates language in banking law to replace gendered pronouns (changing "he or she" to "they") and expands the definition of robbery to include theft from various types of financial institutions, including banks, trust companies, savings banks, credit unions, and foreign banking corporations operating in New York. The bill adds a new provision to the penal law that classifies robbery of property from a bank as a separate offense, which appears to make such robberies a class C felony. The changes allow banking regulators more discretion in refusing licenses to individuals with criminal histories involving financial crimes, and broaden the scope of what constitutes a serious financial crime. The modifications aim to strengthen legal protections for financial institutions and create more comprehensive guidelines for prosecuting bank-related theft. The bill will take effect on the first of November following its passage into law.

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https://www.nysenate.gov/legislation/bills/2025/S5097