Bill Text: NY S06215 | 2015-2016 | General Assembly | Introduced

New York Senate Bill 6215 (Prior Session Legislation)

Introduced

Bill Title: Enacts the "banking consumer protection act of 2016;" relates to voluntary limits on ATM withdrawals.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO BANKS [S06215 Detail]

Download: New_York-2015-S06215-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6215
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 6, 2016
                                      ___________
       Introduced  by Sen. HAMILTON -- 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 voluntary limits on  ATM
         withdrawals
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. This act shall be known and may be cited  as  the  "Banking
    2  Consumer Protection Act of 2016".
    3    S  2.  Section  75-o  of  the banking law is renumbered 75-p and a new
    4  section 75-o is added to read as follows:
    5    S 75-O. VOLUNTARY LIMITS ON ATM WITHDRAWALS.  ANY BANK OR CREDIT UNION
    6  OPERATING IN THIS STATE UNDER A STATE CHARTER SHALL PERMIT ITS CONSUMERS
    7  TO OPT IN TO A PROGRAM BY WHICH ATM WITHDRAWALS WOULD BE LIMITED TO  ONE
    8  HUNDRED DOLLARS PER DAY.
    9    S 3. This act shall take effect on the one hundred eightieth day after
   10  it shall have become a law; provided, however, that effective immediate-
   11  ly,  the  addition,  amendment,  and/or repeal of any rule or regulation
   12  necessary for the implementation of this act on its  effective  date  is
   13  authorized to be made and completed on or before such effective date.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD13090-01-5