NY State Senate Bill 2023-S5008

Senate Bill S5008

2023-2024 Legislative Session

Prohibits imposition of surcharges at automated teller machines on public university property

download bill text pdf

Current Bill Status - In Senate Committee Banks Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to banks
Feb 21, 2023	referred to banks

2023-S5008 (ACTIVE) - Details

Current Committee:: Senate Banks
Law Section:: Banking Law
Laws Affected:: Add §9-uu, Bank L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S7551
2021-2022: S3243

2023-S5008 (ACTIVE) - Summary

Prohibits imposing surcharges on automated teller machines located on state university of New York or city university of New York property.

2023-S5008 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S5008

SPONSOR: SANDERS
 
TITLE OF BILL:

An act to amend the banking law, in relation to prohibiting banks from
imposing surcharge fees at automated teller machines located at a state
university or a city university

 
PURPOSE OR GENERAL IDEA OF BILL:

To prohibit all banking institutions from imposing surcharge fees for
the use of automated teller machines on state university or city univer-
sity property.

 
SUMMARY OF PROVISIONS:

This legislation adds to section 9-t of the banking law. All banking
institutions which use, own, or lease automated teller machine facili-
ties on state university or city university property shall be prohibited
from charging surcharge fees at such automated teller machines.

 
DIFFERENCE BETWEEN ORIGINAL AND AMENDED VERSION (IF APPLICABLE):

 
JUSTIFICATION:

Students often open up their first checking account when they enter
college. Banks which provide ATMs on SUNY and CUNY campuses have the
exclusive benefit of advertising their bank to these new bank customers.
Often the location of local branches where their parents live are not
the same bank institution. When students are at college during the
semester or school hours, one bank's ATM is accessible, however when at
their parents during the summer/occasional weekends (or non-school hours
in the particular case of CUNY) they only have access to different bank
institutions ATMs. Inevitably, the student will need to use an ATM at
both locations and will be forced to pay additional surcharges.
Surcharge fees on ATMs owned and operated on state university or city
university property target individuals who are already overburdened with
expenses which exceed their means. Most students are already borrowing
from banks to pay their tuition, books and living expenses to attend
school. Given the benefits derived by a bank which has access to the
SUNY/CUNY campuses, the student population should derive a benefit by
having access to ATM free of surcharge (double) fees.

 
PRIOR LEGISLATIVE HISTORY:

2021-22 REFERRED TO SENATE BANKS

2019-20 REFERRED TO SENATE BANKS

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

None.

 
EFFECTIVE DATE:
This act shall take effect on the ninetieth day after it shall have
become a law.

2023-S5008 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5008
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 21, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- 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 prohibiting  banks  from
   imposing  surcharge  fees  at  automated  teller machines located at a
   state university or a city university

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  The banking law is amended by adding a new section 9-uu to
 read as follows:
   §  9-UU. SPECIAL PROVISIONS RELATING TO AUTOMATED TELLER MACHINE FEES.
 1. A "BANKING INSTITUTION" FOR PURPOSES OF THIS SECTION  MEANS  A  BANK,
 TRUST  COMPANY,  SAVINGS  BANK,  SAVINGS  AND LOAN ASSOCIATION, LICENSED
 FOREIGN BANK OR CREDIT UNION.
   2.  ALL BANKING INSTITUTIONS WHICH USE, OWN OR LEASE AUTOMATED  TELLER
 MACHINE  FACILITIES LOCATED ON PROPERTY OWNED BY THE STATE UNIVERSITY OF
 NEW YORK OR THE CITY UNIVERSITY OF NEW YORK  SHALL  BE  PROHIBITED  FROM
 CHARGING SURCHARGE FEES AT SUCH AUTOMATED TELLER MACHINES.
   §  2.  This  act shall take effect on the ninetieth day after it shall
 have become a law.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09521-01-3

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