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History
- Substituted by A6234
- Advanced to third reading
- 2nd report cal.
- 1st report cal.450
- Referred to consumer protection
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to automated teller machine fee disclosure
Signed by Governor · Sponsor Annette Robinson
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4363
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into conformity with current provisions of federal law relating to ATM fee disclosure requirements which eliminated the outdated requirement that ATM machines carry a physical disclosure of potential ATM fees.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.
Justification
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
Fiscal implications
None to the State.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.