What's happening
This bill prohibits banks from charging ATM surcharge fees at machines located on State University or City University of New York property.
Why it matters
Reduces financial barriers for students and campus community. by ensuring that accessing cash at campus ATMs does not incur extra fees, which can disproportionately impact low-income individuals.
Promotes financial inclusion and accessibility. at public universities, making it easier for students, staff, and visitors to avoid unnecessary banking costs while on campus.
May influence how banks negotiate contracts with universities. or decide to place ATMs on campus, potentially affecting the availability and convenience of ATM services in these locations.
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Who cares
Headline styles
Ban ATM Fees on Campus
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to banks
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.
Ban ATM Fees at Campuses
In Assembly Committee · Banks · Sponsor Steven Englebright
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7551
IN SENATE
January 24, 2020
Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Banks
AN ACT to amend the banking law, in relation to prohibiting banks from imposing surcharge fees at automated teller machines located at a state university or a city university
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The banking law is amended by adding a new section 9-x to read as follows:
§ 9-x. Special provisions relating to automated teller machine fees. 1. A "banking institution" for purposes of this section means a bank, trust company, savings bank, savings and loan association, licensed foreign bank or credit union.
2. All banking institutions which use, own or lease automated teller machine facilities located on property owned by the state university of New York or the city university of New York shall be prohibited from charging surcharge fees at such automated teller machines.
§ 2. This act shall take effect on the ninetieth day after it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07128-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the banking law, in relation to prohibiting banks from imposing surcharge fees at automated teller machines located at a state university or a city university
Purpose or general idea of bill
To prohibit all banking institutions from imposing surcharge fees for the use of automated teller machines on state university or city univer- sity property.
Summary of provisions
This legislation adds to section 9-t of the banking law. All banking institutions which use, own, or lease automated teller machine facili- ties on state university or city university property shall be prohibited from charging surcharge fees at such automated teller machines.
Justification
Students often open up their first checking account when they enter college. Banks which provide ATMs on SUNY and CUNY campuses have the exclusive benefit of advertising their bank to these new bank customers. Often the location of local branches where their parents live are not the same bank institution. When students are at college during the semester or school hours, one bank's ATM is accessible, however when at their parents during the summer/occasional weekends (or non-school hours in the particular case of CUNY) they only have access to different bank institutions ATMs. Inevitably, the student will need to use an ATM at both locations and will be forced to pay additional surcharges. Surcharge fees on ATMs owned and operated on state university or city university property target individuals who are already overburdened with expenses which exceed their means. Most students are already borrowing from banks to pay their tuition, books and living expenses to attend school. Given the benefits derived by a bank which has access to the SUNY/CUNY campuses, the student population should derive a benefit by having access to ATM free of surcharge (double) fees.
Prior legislative history
2001-02: A5694 - referred to banks
2003-04: A7057 - referred to banks
2005-06: A2245 - referred to banks
2007-08: A1348-A - referred to banks
2009-10: A2147 - referred to banks
2011-12: A3739 - referred to banks
2013-14: A461 referred to banks 2015-16: A3275 - referred to banks
2017-18: A3318 - referred to banks
Fiscal implications for state and local governments
None.
Effective date
This act shall take effect on the ninetieth day after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.