Bill Text: NY S05488 | 2011-2012 | General Assembly | Introduced
Bill Title: Relates to reporting requirements of banking institutions regarding ATM safety.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-01-04 - REFERRED TO BANKS [S05488 Detail]
Download: New_York-2011-S05488-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
5488
2011-2012 Regular Sessions
I N S E N A T E
May 25, 2011
___________
Introduced by Sen. MARCELLINO -- (at request of the Banking Department)
-- 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 ATM safety
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivision 1 of section 75-g of the banking law, as added
2 by chapter 9 of the laws of 1996 and as designated by section 4-a of
3 part A of chapter 57 of the laws of 1998, is amended and a new subdivi-
4 sion 1-a is added to read as follows:
5 1. [Within one year after the effective date of this article, and each
6 year thereafter] BY THE FIFTEENTH DAY OF JANUARY, APRIL, JULY AND OCTO-
7 BER EACH YEAR (OR THE FOLLOWING BUSINESS DAY IF SUCH DAY IS NOT A BUSI-
8 NESS DAY), every banking institution which [has] HAD an automated teller
9 machine facility which [is] WAS in operation on [such date and such date
10 every year thereafter] THE FIFTEENTH DAY OF THE PRECEDING MONTH shall
11 submit a written COMPLIANCE report to the department on a form
12 prescribed by the superintendent, certifying that such automated teller
13 machine facility is in compliance with the provisions of this article or
14 any variance or exemption that has been granted, or if such facility is
15 not in compliance with such provisions, [such report shall state] STAT-
16 ING the manner in which such facility fails to meet such requirements[,
17 the reasons for such non-compliance and a plan to remedy any such non-
18 compliance]. NOTWITHSTANDING ARTICLE THREE OF THE STATE TECHNOLOGY LAW
19 OR ANY OTHER LAW TO THE CONTRARY, SUCH REPORTS AND ANY OTHER REPORTS
20 REQUIRED BY THIS SECTION SHALL BE MADE BY ELECTRONIC MEANS, UNLESS THE
21 SUPERINTENDENT, IN HIS OR HER SOLE DISCRETION, GRANTS A WAIVER OF SUCH
22 ELECTRONIC FILING REQUIREMENT, UPON GOOD CAUSE SHOWN.
23 1-A. IF ANY QUARTERLY COMPLIANCE REPORT REQUIRED BY SUBDIVISION ONE OF
24 THIS SECTION INDICATES ANY FAILURE TO MEET THE REQUIREMENTS OF THIS
25 ARTICLE, SUCH BANKING INSTITUTION SHALL SUBMIT A WRITTEN REPORT TO THE
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09433-02-1
S. 5488 2
1 DEPARTMENT, ON A FORM PRESCRIBED BY THE SUPERINTENDENT, NO LATER THAN
2 THE ELEVENTH BUSINESS DAY FOLLOWING SUCH QUARTERLY COMPLIANCE REPORT,
3 INDICATING WHETHER EACH SUCH FAILURE HAS BEEN CORRECTED AND, FOR ANY
4 FAILURE THAT HAS NOT BEEN CORRECTED, THE REASON FOR SUCH FAILURE AND THE
5 EXPECTED CORRECTION DATE. IF ANY SUCH FAILURE SHALL NOT HAVE BEEN
6 CORRECTED WITHIN TEN BUSINESS DAYS OF THE FILING DATE OF THE APPLICABLE
7 QUARTERLY COMPLIANCE REPORT, SUCH BANKING INSTITUTION SHALL, PROMPTLY
8 AFTER CORRECTING SUCH FAILURE, SUBMIT A WRITTEN REPORT TO THE DEPARTMENT
9 WITH THE DATE OR DATES OF EACH SUCH CORRECTION.
10 S 2. Subdivision 1 of section 75-j of the banking law, as amended by
11 section 11 of part O of chapter 59 of the laws of 2006, is amended to
12 read as follows:
13 1. Any banking institution THAT REPORTS A VIOLATION OF ANY PROVISION
14 OF SECTION SEVENTY-FIVE-C OF THIS ARTICLE IN A QUARTERLY COMPLIANCE
15 REPORT UNDER SECTION SEVENTY-FIVE-G OF THIS ARTICLE OR IS OTHERWISE
16 found BY THE DEPARTMENT to be in violation of any provision of section
17 seventy-five-c of this article shall correct the violation within ten
18 business days after such REPORT OR finding. Where a banking institution
19 fails to correct [said violation within such period of time] ANY
20 VIOLATION OF A PROVISION OF SECTION SEVENTY-FIVE-C OF THIS ARTICLE WITH-
21 IN TEN BUSINESS DAYS AFTER THE FILING OF SUCH REPORT OR A FINDING OF
22 VIOLATION BY THE DEPARTMENT, the superintendent may, in a proceeding
23 after notice and a hearing, require [any] SUCH banking institution to
24 pay a civil penalty in an amount as determined pursuant to section
25 forty-four of this chapter, provided, however, that the aggregate penal-
26 ty for all offenses with respect to any one automated teller machine
27 facility in any one proceeding shall not exceed an amount as determined
28 pursuant to section forty-four of this chapter. For the purposes of this
29 article, each violation of section seventy-five-c of this article shall
30 be considered a separate and distinct violation.
31 S 3. This act shall take effect on the first of March next succeeding
32 the date on which it shall have become a law or such later date as the
33 superintendent of banks may determine is necessary for the banking
34 department to develop a system for the automated reporting of compliance
35 with the requirements of article 2-AA of the banking law; provided that
36 the superintendent of banks shall notify the legislative bill drafting
37 commission upon the development of such system of automated reporting in
38 order that the commission may maintain an accurate and timely effective
39 data base of the official text of the laws of the state of New York in
40 furtherance of effectuating the provisions of section 44 of the legisla-
41 tive law and section 70-b of the public officers law.
