New York Legislator Introduces DIDMCA Opt-Out Bill—But Action Will Have to Wait Until 2027

A state senator in New York introduced a bill that, if adopted, would exercise New York’s right under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”) to opt-out of DIDMCA preemption. However, there is virtually no chance that this bill will be enacted this year.... By: Ballard Spahr LLP