The CreditUnion Association of New York is backing a bill which wouldeliminate a requirement that fee disclosures be attached to ATMexteriors.
|Assemblywoman Annette Robinson, a Brooklyn Democrat and chairmanof the Banks Committee, introduced the legislation, the CUANYsaid.
|According to the association, current law requires ATM operatorsto display notices in two separate locations, both physically onthe ATM and electronic notification on the screen, informingconsumers that they might be charged fees for withdrawing cash fromthe ATM.
|These exterior disclosures have become the seeds of widespreadlawsuitsdirected at both credit unions and banks around the country.
|Robinson's bill would eliminate the requirement of physical feedisclosures on ATMs, which would bring New York state law intoconformity with federal law signed by President Obama last December, the associationsaid.
|CUANY President/CEO William J. Mellin noted that CUANY has beenadvocating aggressively for state passage of this legislation.
|“Our state's law on this issue needs to be modernized, and theintroduction of this bill is a significant step in the rightdirection,” Mellin said. “We commend Assemblywoman Robinson for herleadership, and we will continue to advocate for advancement of thebill in both the Assembly and the Senate.”
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