Bill Text: NY A05639 | 2011-2012 | General Assembly | Introduced

---

Bill Title: Establishes a rating system for automated teller machine usage fees.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2011-04-20 - enacting clause stricken [A05639 Detail]

Download: New_York-2011-A05639-Introduced.html

---

                           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:
    1    Section 1. The banking law is amended by adding a new section  9-v  to
    2  read as follows:
    3    S  9-V.  AUTOMATED  TELLER  MACHINE  USAGE  FEE  RATING SYSTEM. 1. FOR
    4  PURPOSES OF THIS SECTION, THE TERM:
    5    A. "AUTOMATED TELLER MACHINE" OR "ATM" SHALL HAVE THE SAME MEANING  AS
    6  SET  FORTH IN SUBDIVISION TWO OF SECTION SEVENTY-FIVE-B OF THIS CHAPTER;
    7  AND
    8    B. "USAGE FEE" SHALL MEAN THE FEE CHARGED BY THE OWNER OR OPERATOR  OF
    9  AN ATM TO THE PERSON WHO CONDUCTS A TRANSACTION AT SUCH ATM.
   10    2.  ON  AND  AFTER OCTOBER FIRST, TWO THOUSAND ELEVEN, EVERY AUTOMATED
   11  TELLER MACHINE IN THIS STATE SHALL HAVE POSTED ON  SUCH  ATM,  A  RATING
   12  LETTER  TO  DESIGNATE  THE  USAGE  FEE  CHARGED FOR USING SUCH ATM. SUCH
   13  RATING LETTERS SHALL REPRESENT THE FOLLOWING FEES:
   14    A. "A" DESIGNATES A USAGE FEE OF $1.00 OR LESS;
   15    B. "B" DESIGNATES A USAGE FEE OF $1.01 TO $2.00;
   16    C. "C" DESIGNATES A USAGE FEE OF $2.01 TO $3.00;
   17    D. "D" DESIGNATES A USAGE FEE OF $3.01 OR MORE.
   18    3. THE RATING LETTER REQUIRED BY THIS SECTION SHALL BE POSTED ON  EACH
   19  ATM  AND  SHALL  BE  PLACED AS NEARLY AS IS PRACTICABLE TO THE KEYPAD OR
   20  CARD INSERTION SLOT ON SUCH ATM. SUCH RATING LETTER SHALL BE PLACED ON A
   21  SQUARE SIGN OF AT LEAST THREE INCHES BY THREE INCHES IN SIZE. THE  BACK-
   22  GROUND  OF  SUCH SIGN SHALL BE YELLOW AND THE LETTER DESIGNATING THE ATM
   23  USAGE FEE SHALL BE  IN  RED.  SUCH  SIGN  SHALL  ALSO  CONTAIN  A  BRIEF
   24  DESCRIPTION OF THE RATING SYSTEM.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD09350-01-1
       A. 5639                             2
    1    4.  FAILURE  TO  COMPLY  WITH  THE PROVISIONS OF THIS SECTION SHALL BE
    2  DEEMED TO BE A DECEPTIVE ACT OR PRACTICE AND SUBJECT  TO  SECTION  THREE
    3  HUNDRED FORTY-NINE OF THE GENERAL BUSINESS LAW.
    4    S 2. This act shall take effect immediately.