NY A03248

Financial institutions in New York must provide written notice to account holders of overdraft fees every 180 days.

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

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

Applies to all banks, trust companies, savings banks, credit unions, mortgage brokers, mortgage bankers, and other investment entities subject to New York banking law.

Takes effect January 1, 2024.