Bill Text: NY S07310 | 2009-2010 | General Assembly | Introduced

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

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2010-03-29 - REFERRED TO BANKS [S07310 Detail]

Download: New_York-2009-S07310-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7310
                                   I N  S E N A T E
                                    March 29, 2010
                                      ___________
       Introduced  by  Sen. PERALTA -- 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  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 TEN, 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.
   25    4.  FAILURE  TO  COMPLY  WITH  THE PROVISIONS OF THIS SECTION SHALL BE
   26  DEEMED TO BE A DECEPTIVE ACT OR PRACTICE AND SUBJECT  TO  SECTION  THREE
   27  HUNDRED FORTY-NINE OF THE GENERAL BUSINESS LAW.
   28    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11623-02-0