Two Good Potential New York Laws and One Bad Law

Potential New York laws includes a good foreclosure law, a good banking law, and a bad campaign finance law.

State Bank of North Dakota

  1. Good:  New York Assembly Bill A6737 Introduced to Study the Feasibility of a NY State-owned Bank   the 92-year old Bank of North Dakota has created stability for the state and delivered a surplus to the state budget.  Imagine if NYers could put all their municipal and pension accounts in a state bank instead of a too big to fail bank.
  2. Good: New York Assembly bill A5582 for a Foreclosure Certificate of Merit. Through a quirk of the NY court system, bank attorneys do no have to certify that the bank, their client, owns the mortgage until after the summons and complaint has been served on the homeowner.  This runs up unnecessary legal costs for the bank in paying legal fees for litigation they cannot pursue; it clogs up the courts with cases that go nowhere; and needlessly frightens homeowners with false foreclosure filings. since the banks cannot create their own internal controls to make sure they are running up pointless legal bills, a change in New York legislation is needed.
  3. Bad: New York Assembly bill A4980C called Fair Elections Act.  The word “fair” in the legislation’s title could not be taken to mean “just”, it could only be taken to mean “fair” as in rated less than “good”.  The  publicity for the Act claims to provide funding statewide on the model used in NYC.  It does not. The numbers are increased so that all that it does is funnel taxpayer’s money to corporate candidate.  It does not achieve the goal of public financing by encouraging citizens candidates.
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