Bloomberg Law
Aug. 10, 2022, 3:36 PM

New York Helps Holocaust Survivors Skip Bank Fees on Reparations

Keshia Clukey
Keshia Clukey

New York enacted a new law that aims to make it easier for Holocaust survivors to receive reparations by publicly identifying banks that waive processing fees for those payments.

Gov. Kathy Hochul (D) on Wednesday signed legislation (S.8318/A.9338) requiring the state Department of Financial Services to keep an updated list of New York financial institutions that voluntarily waive wire transfer fees and other fees for victims or targets of Nazi persecution who receive settlement funds or grantor trusts.

The list will be posted on the department’s website.

The measure aims to “ease the unnecessary burdens” placed upon survivors, ...

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