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Assembly Bill A5639

2011-2012 Legislative Session

Establishes a rating system for automated teller machine usage fees

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Archive: Last Bill Status - Stricken

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2011-A5639 (ACTIVE) - Details

Law Section:
Banking Law
Laws Affected:
Add ยง9-v, Bank L
Versions Introduced in 2009-2010 Legislative Session:
A8439

2011-A5639 (ACTIVE) - Summary

Establishes a rating system for automated teller machine usage fees.

2011-A5639 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5639

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 24, 2011
                               ___________

Introduced  by  M. of A. TOWNS, BOYLAND, CASTRO -- Multi-Sponsored by --
  M. of A. McENENY, REILLY -- read once and referred to the Committee on
  Banks

AN ACT to amend the banking law, in relation to  establishing  a  rating
  system for automated teller machine usage fees

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The banking law is amended by adding a new section  9-v  to
read as follows:
  S  9-V.  AUTOMATED  TELLER  MACHINE  USAGE  FEE  RATING SYSTEM. 1. FOR
PURPOSES OF THIS SECTION, THE TERM:
  A. "AUTOMATED TELLER MACHINE" OR "ATM" SHALL HAVE THE SAME MEANING  AS
SET  FORTH IN SUBDIVISION TWO OF SECTION SEVENTY-FIVE-B OF THIS CHAPTER;
AND
  B. "USAGE FEE" SHALL MEAN THE FEE CHARGED BY THE OWNER OR OPERATOR  OF
AN ATM TO THE PERSON WHO CONDUCTS A TRANSACTION AT SUCH ATM.
  2.  ON  AND  AFTER OCTOBER FIRST, TWO THOUSAND ELEVEN, EVERY AUTOMATED
TELLER MACHINE IN THIS STATE SHALL HAVE POSTED ON  SUCH  ATM,  A  RATING
LETTER  TO  DESIGNATE  THE  USAGE  FEE  CHARGED FOR USING SUCH ATM. SUCH
RATING LETTERS SHALL REPRESENT THE FOLLOWING FEES:
  A. "A" DESIGNATES A USAGE FEE OF $1.00 OR LESS;
  B. "B" DESIGNATES A USAGE FEE OF $1.01 TO $2.00;
  C. "C" DESIGNATES A USAGE FEE OF $2.01 TO $3.00;
  D. "D" DESIGNATES A USAGE FEE OF $3.01 OR MORE.
  3. THE RATING LETTER REQUIRED BY THIS SECTION SHALL BE POSTED ON  EACH
ATM  AND  SHALL  BE  PLACED AS NEARLY AS IS PRACTICABLE TO THE KEYPAD OR
CARD INSERTION SLOT ON SUCH ATM. SUCH RATING LETTER SHALL BE PLACED ON A
SQUARE SIGN OF AT LEAST THREE INCHES BY THREE INCHES IN SIZE. THE  BACK-
GROUND  OF  SUCH SIGN SHALL BE YELLOW AND THE LETTER DESIGNATING THE ATM
USAGE FEE SHALL BE  IN  RED.  SUCH  SIGN  SHALL  ALSO  CONTAIN  A  BRIEF
DESCRIPTION OF THE RATING SYSTEM.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09350-01-1

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