senate Bill S4363
(R, C, IP) 47th Senate District
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Relates to automated teller machine fee disclosure; eliminates provisions requiring an automated teller machine operator to post a sign that a fee is imposed for the use of such machine, as well as the amount of such fee.
TITLE OF BILL: An act to amend the general business law, in relation
to automated teller machine fee disclosure
PURPOSE OR GENERAL IDEA OF BILL:
To bring state law into conformity with current provisions of federal
law relating to ATM fee disclosure requirements which eliminated the
outdated requirement that ATM machines carry a physical disclosure of
potential ATM fees.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1- amends § 399-y to the General Business Law by removing
paragraph 3(a) which requires a sign be posted in on or at the ATM
stating that a fee is imposed and the amount of the fee.
Section 2 - Contains the effective date.
Under current law, automatic teller machine (ATM) operators are
required to display notices in two separate locations notifying
consumers that they might be charged fees for withdrawing cash from
the ATM. One notice is required to be posted in a prominent and
conspicuous location on or at the ATM with the second notice required
to appear on the screen of the ATM or on a paper notice issued from
the machine after the transaction is initiated and before the consumer
is irrevocably committed to completing the transaction. The
requirements of state law were patterned after the ATM disclosure
requirements under federal law.
Congress recently adopted legislation (H.R. 3647) which eliminates the
requirement that ATM fee notices be affixed to or displayed on ATMs.
This legislation would bring state law into conformity with current
provisions of federal law relating to ATM fee disclosure requirements.
PRIOR LEGISLATIVE HISTORY:
None to the State.
This act shall take effect immediately.
Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.
By contributing or voting you agree to the Terms of Participation and verify you are over 13.