Python 3.4
You can now use Path from pathlib. It has many features, one of them is suffix:
>>> from pathlib import Path
>>> Path('my/library/setup.py').suffix
'.py'
>>> Path('my/library.tar.gz').suffix
'.gz'
>>> Path('my/library').suffix
''
If you want to get more than one suffix, use suffixes:
>>> from pathlib import Path
>>> Path('my/library.tar.gar').suffixes
['.tar', '.gar']
>>> Path('my/library.tar.gz').suffixes
['.tar', '.gz']
>>> Path('my/library').suffixes
[]