Bill Text: NY S08387 | 2017-2018 | General Assembly | Introduced

New York Senate Bill 8387 (Prior Session Legislation)

Introduced

Bill Title: Requires ATM machines to release ATM cards with EVM chips prior to disbursing cash or a receipt and defines EVM chip and related terms.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2018-05-04 - REFERRED TO BANKS [S08387 Detail]

Download: New_York-2017-S08387-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          8387
                    IN SENATE
                                       May 4, 2018
                                       ___________
        Introduced  by  Sen.  COMRIE -- 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 requiring  ATM  machines
          to  release  ATM  cards  with  EVM chips prior to disbursing cash or a
          receipt
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section 75-b of the banking law is amended by adding four
     2  new subdivisions 10, 11, 12, and 13 to read as follows:
     3    10. "EVM chip" means a data storage chip that implements the  Europay,
     4  Mastercard and Visa technical standard.
     5    11.  "Chip  card" means an automated teller machine card, credit card,
     6  or other form of secure-payment card with an  EVM  chip  inset  for  the
     7  purposes of customer data storage.
     8    12.  "Card  dipping"  means  the  insertion of a chip card into a card
     9  reader to enable customer data to be read off the EVM chip.
    10    13. "Chip enabled automatic teller machine" means an automatic  teller
    11  machine that reads customer data from a chip card and uses card dipping.
    12    § 2. Section 75-c of the banking law is amended by adding a new subdi-
    13  vision 4 to read as follows:
    14    4.  Notwithstanding the provisions of section 75-i of this article, no
    15  newly installed chip enabled automatic  teller  machine  shall  disburse
    16  cash  or print a deposit receipt without first releasing the card to the
    17  customer and the customer withdrawing the card from the reader.
    18    § 3. This act shall take effect on the one hundred eightieth day after
    19  it shall have become a law and shall apply to any  ATM  installed  after
    20  such date.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11833-01-7