A06766 Summary:
| BILL NO | A06766 |
| SAME AS | SAME AS S06695 |
| SPONSOR | Vanel |
| COSPNSR | Lee, Weprin, Dais, Peoples-Stokes |
| MLTSPNSR | |
| Add §399-y-2, Gen Bus L | |
| Prohibits predatory automated teller machine fees at casinos and colleges. | |
A06766 Actions:
| BILL NO | A06766 | |||||||||||||||||||||||||||||||||||||||||||||||||
| 03/12/2025 | referred to banks | |||||||||||||||||||||||||||||||||||||||||||||||||
| 03/18/2025 | reported referred to codes | |||||||||||||||||||||||||||||||||||||||||||||||||
| 05/06/2025 | reported | |||||||||||||||||||||||||||||||||||||||||||||||||
| 05/08/2025 | advanced to third reading cal.130 | |||||||||||||||||||||||||||||||||||||||||||||||||
| 05/28/2025 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
| 05/28/2025 | delivered to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
| 05/28/2025 | REFERRED TO CONSUMER PROTECTION | |||||||||||||||||||||||||||||||||||||||||||||||||
| 01/07/2026 | DIED IN SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
| 01/07/2026 | RETURNED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
| 01/07/2026 | ordered to third reading cal.174 | |||||||||||||||||||||||||||||||||||||||||||||||||
A06766 Memo:
Go to topNEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
TITLE OF BILL: An act to amend the general business law, in relation to prohibiting predatory automated teller machine fees at casinos and colleges PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to protect college students and casino patrons from excessive or predatory ATM fees, ensuring they can access their funds at a fair cost. SUMMARY OF SPECIFIC PROVISIONS: Section one: Amends the general business law by adding a new section 399-y-2. Subdivision one: Definitions. Subdivision two: Prohibits casinos and colleges from knowingly hosting ATMs on their premises that charge fees or surcharges above a limit set by the Department of Financial Services, which may review and adjust the limit as necessary. Subdivision three: Specifies that a casino or college that receives a consumer complaint about an ATM charging fees or surcharges in excess of the limit as having knowledge of such activity. Subdivision four: Imposes a $250 civil penalty on any casino or college that knowingly allows an ATM on their premises to charge fees or surcharges exceeding the cap set by the Department of Financial Services. Subdivision five: Severability clause. Section two: Effective Date. JUSTIFICATION: Automated teller machines (ATMs) provide a simple, efficient, and acces- sible way for one to receive their hard-earned money in cash. However, like with most services, it comes at a cost. This cost is the same regardless of one's income, meaning that for those who earn less, the cost to simply get their money in cash hits harder. The problem is exacerbated when groups of people become captive audi- ences to ATM providers. Essentially, due to their circumstances they have no choice but to pay an exorbitant fee to take out their own money. This is particularly true when it comes to students on college campuses. The employment rate for full-time undergraduate students in 2020, according to the National Center for Education Statistics, is just 40%. This is far lower that then that of adults, who have an employment rate that generally exceeds 95%. College students are already burdened with the high cost to attend school, including but not limited to tuition, housing and purchasing textbooks and other class-related materials. Worrying about whether they can simply afford to take their money out of an ATM should not be among those costs, and on remote campuses where students spend most of their time, they should not be treated as captive audiences to ATM providers. And it's not just college students who are affected. Step into any casi- no, and you'll find ATMs that charge exorbitant fees since you have nowhere else to go to get cash. While the national average ATM fee hovers at a few dollars, these machines demand a staggering $10, $15, or even more just for the privilege of accessing one's own money. It's an inherently unfair, predatory practice that targets people who are already taking a financial risk - and who, on average, lose. Casinos generate substantial revenue from the funds wagered on their premises, yet these ATM fees extract additional sums from patrons before they can even participate. This bill targets two high-risk areas with respect to ATM fees to ensure that the people on these premises can access their money at a reasonable cost, and hold accountable the owners of the premises when they subject those on their premises to unreasonable fees. PRIOR LEGISLATIVE HISTORY: New bill. FISCAL IMPLICATIONS: To be determined. EFFECTIVE DATE: This act shall take effect immediately after it shall have become a law.
A06766 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 6766 2025-2026 Regular Sessions IN ASSEMBLY March 12, 2025 ___________ Introduced by M. of A. VANEL -- read once and referred to the Committee on Banks AN ACT to amend the general business law, in relation to prohibiting predatory automated teller machine fees at casinos and colleges The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The general business law is amended by adding a new section 2 399-y-2 to read as follows: 3 § 399-y-2. Predatory automated teller machine fees prohibited. 1. For 4 the purposes of this section, the following terms shall have the follow- 5 ing meanings: 6 a. "Automated teller machine" shall mean an automated teller machine 7 as defined in section three hundred ninety-nine-y-one of this article. 8 b. "Casino" shall mean a casino as defined in section one thousand 9 three hundred one of the racing, pari-mutuel wagering and breeding law. 10 c. "College" shall mean a college as defined in section two of the 11 education law that is located within the state of New York. 12 2. No casino or college may knowingly have located on its premises an 13 automated teller machine which charges a consumer a fee or surcharge for 14 a financial transaction exceeding a monetary amount to be established by 15 the superintendent of the department of financial services that is fair 16 and reasonable to consumers and consistent with prevailing industry 17 norms and standards. The superintendent of the department of financial 18 services may periodically review and adjust such monetary amount. 19 3. Where a casino or college receives a complaint from a consumer that 20 an automated teller machine located on the premises of such casino or 21 college is charging a fee or surcharge exceeding the monetary amount 22 established pursuant to subdivision two of this section, such casino or 23 college shall be deemed to have knowledge that an automated teller 24 machine is charging a fee or surcharge exceeding such monetary amount on 25 the premises of such casino or college. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10931-01-5A. 6766 2 1 4. Any casino or college that knowingly permits an automated teller 2 machine on its premises to charge a fee or surcharge exceeding the mone- 3 tary amount established pursuant to subdivision two of this section 4 shall be assessed a civil penalty not to exceed two hundred fifty 5 dollars per violation. 6 5. If any provision of this article or the application thereof to any 7 person or circumstances is held to be invalid, such invalidity shall not 8 affect other provisions or applications of this article which can be 9 given effect without the invalid provision or application, and to this 10 end the provisions of this article are severable. 11 § 2. This act shall take effect immediately.