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Overdraft Fees NYDFS Banks

Troutman Pepper Locke

New York Issues Proposed Regulations About Overdraft Fees

Troutman Pepper Locke on

Given the future uncertainty of the Consumer Financial Protection Bureau’s (CFPB) efforts to regulate bank overdraft fees, New York’s Department of Financial Services (DFS) has stepped in to fill a perceived gap. The DFS...more

Ballard Spahr LLP

New York Governor’s 2024 fiscal budget proposal targets overdraft and NSF fees

Ballard Spahr LLP on

On February 2, 2023, New York Governor Kathy Hochul released her 2024 fiscal budget proposal, which included banking policy to “Protect New Yorkers from Predatory Banking Fee” in the Executive Budget Briefing Book.  The...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

Ballard Spahr LLP

NY Dept. of Financial Services issues overdraft/NSF fee guidance

Ballard Spahr LLP on

The New York State Department of Financial Services (DFS) has issued an Industry Letter providing guidance on overdraft and non-sufficient funds (NSF) fees to depository institutions that it supervises....more

McGlinchey Stafford

New York Issues Series of Executive Orders Providing Relief to Borrowers Impacted by COVID-19

McGlinchey Stafford on

On March 7, 2020, Governor Andrew Cuomo issued Executive Order 202 declaring a state of emergency for the entire State of New York as a result of the COVID-19 pandemic. Since that time, the Governor has issued a series of...more

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