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Banks New York Financial Services Industry

Quarles & Brady LLP

New York Cybersecurity Regulation Requires Submission of Compliance Certification or Acknowledgement of Noncompliance Next Week

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On April 3, 2025, the New York State Department of Financial Services (“DFS”) issued reminders about upcoming implementation and reporting deadlines related to its cybersecurity regulations. Upcoming deadlines require...more

Troutman Pepper Locke

New York Issues Proposed Regulations About Overdraft Fees

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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 enacts new requirements for subscription auto-renewals and credit card surcharge pricing

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On December 13, 2023, New York Governor Hochul signed two laws, which aim to protect consumers from (1) unwanted subscriptions by requiring notice to consumers for upcoming automatic renewals with clear instructions for...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

Moritt Hock & Hamroff LLP

Disclosure Laws: NY Regulations Finalized, Certain Bank Subsidiaries Now Exempt, and Law Only Applies To Recipients Located Or...

For those of you doing business in New York, you’ll know the state passed legislation providing for a CFDL. However, implementation is running behind that of California, the first state to create these regulations, which saw...more

Sheppard Mullin Richter & Hampton LLP

New York Publishes Proposed Rules on Commercial Financing Disclosures

On September 14, the New York Department of Financial Services (NYDFS) published a notice of proposed rules under New York’s Commercial Financing Disclosure Law (CFDL)...more

Sheppard Mullin Richter & Hampton LLP

Judgment Creditors Beware: Moving For Contempt May Be Within Reach, But Difficult To Grasp

In the New York County Commercial Division, Justice David B. Cohen’s ruling in B&M Kingstone, LLC v. Mega Int’l Comm. Bank Ltd., 2022 NY Slip Op. 30481(U) (Sup. Ct. N.Y. Cnty. 2022) makes clear that New York courts can compel...more

Katten Muchin Rosenman LLP

New York Department of Financial Services Alters Effectiveness Date of New Commercial Financing Disclosure Laws

New York's Department of Financial Services (DFS or Department) has used its authority to extend a statutorily-mandated January 1, 2022, effective date. As we previously reported in our September 30 Client Alert, the DFS...more

Katten Muchin Rosenman LLP

New York Department of Financial Services Issues Proposed Rules Implementing Commercial Financing Disclosure Laws

On September 21, 2021, the State of New York Department of Financial Services (DFS) issued proposed regulations that will implement statutory requirements related to commercial financing disclosures for certain types of...more

Sheppard Mullin Richter & Hampton LLP

DFS Settles with Indirect Auto Lenders to Resolve Fair Lending Violations

On June 29, NYDFS announced that two New York-charted banks engaging in indirect auto lending will pay civil money penalties for violating New York’s fair lending law for engaging in practices that resulted in members of...more

Seyfarth Shaw LLP

Initial Government Guidance on Steps New York Landlords Should Take to Protect Health and Safety

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Many landlords of commercial and residential buildings in New York City have been looking into possible ways to address the health and safety of individuals at their premises. Although New York courts have not yet weighed in...more

Seyfarth Shaw LLP

If Pain, Yes Gain—Part 84: New York State Paid Sick Leave Law Signed

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Seyfarth Synopsis: New York’s paid sick leave law, applicable to employers of all sizes, goes into effect on September 30, 2020, permitting employees to use sick leave beginning January 1, 2021. ...more

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