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Banks waiving fees because of superstorm Sandy

Officials said customers should check with their bank

Officials said customers should check with their bank to see which fee waivers they are applying in the aftermath of superstorm Sandy. (Credit: iStock)

Some major banks are waiving customer fees because of superstorm Sandy.

Gov. Andrew M. Como announced Friday that New York Community Bank, M&T Bank, Apple Savings, Emigrant Savings and others have agreed not to charge fees for ATM usage, late payment, bounced checks, overdrafts and early withdrawals from savings to pay for disaster needs.

All the banks in Cuomo’s announcement are chartered by New York State.

Others chartered by the federal government such as Bank of America and JPMorganChase also are lifting fees.

Officials said customers should check with their bank to see which fee waivers they are applying.

“Thousands of New Yorkers’ lives have been disrupted by the storm – including their usual financial obligations and activities,” Cuomo said. “As a result, some people may have late payments or be forced to incur other bank fees and penalties … I call on any state or federal chartered banks that have not yet waived fees to follow suit.”

Benjamin M. Lawsky, state superintendent of financial services, hailed New York Community and other banks for aiding their customers harmed by Sandy.

Tags: Banks , fees

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