New York S 4700: Relates to registration of non-bank automated teller machines

Bill Text

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S04700 Summary:

BILL NOS04700 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORCLEARE

&nbsp

COSPNSR

&nbsp

MLTSPNSR

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Add Art 2-AAA §§76-a - 76-i, Bank L

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Requires the registration and regulation of non-bank automated teller machines.

Go to top S04700 Actions:

BILL NOS04700 

&nbsp

02/11/2025REFERRED TO BANKS

01/07/2026REFERRED TO BANKS

Go to topS04700 Committee&nbspVotes:

Go to topS04700 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04700 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4700

 2025-2026 Regular Sessions

 IN SENATE

 February 11, 2025
 ___________

 Introduced by Sen. CLEARE -- 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 non-bank automated
 teller machines

 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 article 2-AAA to
 2 read as follows:

 3 ARTICLE II-AAA
 4 NON-BANK ATM REGISTRATION

 5 Section 76-a. Definitions.
 6 76-b. Responsibilities.
 7 76-c. Registration.
 8 76-d. Required disclosures.
 9 76-e. Penalties.
 10 76-f. Examination of books.
 11 76-g. Suspension or revocation of registration.
 12 76-h. Treatment of fees.
 13 76-i. Rules and regulations.
 14 § 76-a. Definitions. For purposes of this article, the following terms
 15 shall have the following meanings:
 16 1. "Non-bank automated teller machine" or "non-bank ATM" means any
 17 automated teller machine that is not under the dominion and control of a
 18 state or federally chartered bank, trust company, savings bank, savings
 19 and loan association or credit union.
 20 2. "Operate" means to own, lease or otherwise legally control a non-
 21 bank ATM.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09396-01-5

 S. 4700 2

 1 3. "Operator" means the person who owns, leases, or otherwise legally
 2 controls a non-bank ATM and is responsible for registering the non-bank
 3 ATM.
 4 § 76-b. Responsibilities. 1. A person shall not operate a non-bank ATM
 5 in this state unless that person registers the non-bank ATM with the
 6 superintendent.
 7 2. Operators shall not charge a transaction fee in excess of the rate
 8 set by the superintendent.
 9 3. Non-bank ATMs must be operated in compliance with the federal Elec-
 10 tronic Funds Transfer Act, Anti Money Laundering Act, Bank Secrecy Act,
 11 and the ATM safety act under article two-AA of this chapter.
 12 § 76-c. Registration. 1. Operators must register any non-bank ATM with
 13 the superintendent on a registration form established by the superinten-
 14 dent that contains such information as the superintendent may require,
 15 including at a minimum:
 16 (a) the operator's name, address, and telephone number;
 17 (b) the name and address of where the non-bank ATM is located;
 18 (c) the types of transactions available;
 19 (d) the processor's name, address, and telephone number;
 20 (e) the servicing agent's name, address, and telephone number;
 21 (f) the name, title, address, and telephone number of the person
 22 completing the registration; and
 23 (g) any other information required by the superintendent.
 24 2. The operator shall pay to the superintendent a registration fee as
 25 prescribed pursuant to section eighteen-a of this chapter.
 26 3. After the initial registration, the operator shall bi-annually
 27 submit to the superintendent a registration renewal and registration
 28 fee.
 29 4. The operator shall promptly notify the superintendent in writing:
 30 (a) of any changes to the information required in subdivision one of
 31 this section; or
 32 (b) if the operation of the non-bank ATM is terminated.
 33 5. The certificate of registration issued shall not be transferable
 34 from one operator to another operator or from one location to another.
 35 If the operator of the non-bank ATM changes, the new operator must
 36 re-register the non-bank ATM with the superintendent.
 37 § 76-d. Required disclosures. 1. An operator shall clearly and
 38 conspicuously disclose on a sign posted on the non-bank ATM or in clear
 39 view of the non