LATHAM, N.Y. – A new regulation that will mandate New York credit unions keep ATM security tapes for 45 instead of 30 days has the support of the New York Credit Union League and should not cost the credit unions too much money or trouble, according to a League official. "The law was considered pretty much a good deal for everyone," said Mike Lanotte, General Counsel for the League. "It will help protect consumers and credit unions and it doesn't cost too much." Under the new law, credit unions and other financial institutions which deploy ATMs have to keep their security tapes from their ATMs for an additional 15 days, to give credit union members who might discover that their card numbers had been "skimmed" enough time to alert the credit union and get a look at the fraudulent card user on the tape, Lanotte explained.
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