Governor Hochul signs legislation to study overdraft fees in New York

In your money, Governor Kathy Hochul today is signing legislation to do a study on overdraft fees in New York.

The law directs the department of financial services to examine the total amount of fees in New York, the geographical distribution, and the percentage of overdraft fees reduced. This is a part of the state’s ongoing efforts to address excessive finance fees and help low income New Yorkers access affordable banking.