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.

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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.