News & Analysis as of

Overdraft Fees New York Fees

Sheppard Mullin Richter & Hampton LLP

New York Enacts BNPL and Overdraft Fee Restrictions

On May 9, the NYDFS announced that Governor Kathy Hochul signed New York’s FY2026 Budget into law, enacting two major consumer financial protection measures. The budget establishes a licensing and supervision framework for...more

Sheppard Mullin Richter & Hampton LLP

New York Proposes Limits on Overdraft and NSF Fees

On January 23, 2025 the New York Department of Financial Services (NYDFS) announced proposed regulations to curb overdraft fees and insufficient funds fees charged by banks in New York. The proposed rules aim to protect...more

Orrick, Herrington & Sutcliffe LLP

New York FY 2024 budget proposes to end unfair overdraft practices

On February 1, the New York governor released the state’s FY 2024 budget proposal, which includes measures for ending certain bank overdraft and insufficient fee practices. ...more

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