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Fees NYDFS Financial Institutions

Cooley LLP

NYDFS Proposes Limits on Overdraft and NSF Fees

Cooley LLP on

On January 22, 2025, the New York State Department of Financial Services (NYDFS) announced proposed regulations that would limit fees associated with overdrafts, nonsufficient funds (NSF) transactions and returned deposit...more

Holland & Knight LLP

Overdraft Free? New York's Pre-Proposed Outreach on Bank Fees

Holland & Knight LLP on

Insufficient funds transactions occur when consumers issue a payment order (a check, some other written order or an electronic debit) against funds in their bank account, and the account lacks sufficient funds to cover the...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

Ballard Spahr LLP

NY State Department of Financial Services issues proposed overdraft rule

Ballard Spahr LLP on

The New York State Department of Financial Services has released a proposed rule that would regulate overdraft, non-sufficient funds (NSF), and return deposit item fees charged by banks, trust companies, savings banks,...more

Orrick, Herrington & Sutcliffe LLP

New York Governor Hochul proposes new financial protections

On January 14, Governor Kathy Hochul announced new proposals to protect New York consumers as part of her 2025 State of the State. Her proposals included legislation to: (i) combat algorithmic price discrimination by...more

Pillsbury Winthrop Shaw Pittman LLP

New York to Require Crypto Companies to Pay Assessment Fees

New York will for the first time require companies that hold a BitLicense to pay annual assessment fees. The new fee will increase the already high cost of obtaining a BitLicense and operating a crypto business in New...more

Ballard Spahr LLP

New York Issues Final Mortgage Servicing Regulations

Ballard Spahr LLP on

On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. ...more

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