Bill > A07651

This bill directs the Superintendent of Financial Services to conduct a study on overdraft fees in New York State. The study will examine the total amount of overdraft fees paid, their geographical distribution, identify communities with high rates of such fees and the reasons for that, the percentage of fees reduced through negotiation, and the enumeration of consumer rights related to fee negotiations. The Superintendent is required to deliver a report of the study's findings to the Governor, the Temporary President of the Senate, and the Speaker of the Assembly within 12 months of the bill's effective date, and the report will be posted on the Department of Financial Services' website.

Budget and Finance, Business and Industry

https://www.nysenate.gov/legislation/bills/2021/A7651