NY A07650

Requires financial institutions (banks, credit unions, mortgage brokers, and other investment entities) to provide written notice of overdraft fees to account holders every 180 days.

Notice must include dates and amounts of overdraft fees, total amount charged, information on the customer's ability to negotiate fees, and contact information for a representative.

Electronic notification satisfies the writing requirement if the account holder selects that option.

Takes effect January 1, 2022.