The state’s Department of Financial Services seeks to prevent banks and credit unions from imposing three kinds of “improper or unfair” fees, including overdraft charges when the consumer’s account shows sufficient funds at the time of transaction.
New York State Top 50 Lobbyists 2021 cityandstateny.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityandstateny.com Daily Mail and Mail on Sunday newspapers.
Consumer advocates have long wanted to restrict banks' ability to collect overdraft fees. The Empire State's new law represents a small but consequential breakthrough as they push for nationwide reform.