NY banks urged to waive transfer, processing fees for Holocaust reparation payments

(December 24, 2021 / JNS) The New York State Department of Financial Services has asked state-chartered financial institutions to waive wire transfer and processing fees for recipients of Holocaust reparations if they do not already do so.

“These fees impose a significant burden on elderly Holocaust survivors, victims and heirs who often rely on these payments to meet their everyday needs,” Acting Superintendent Adrienne Harris said in a press release on Wednesday. “Waiving these fees sends a powerful message on the willingness of New York’s financial community to have a meaningful impact on the lives of the people they serve.”