STATE OF NEW YORK
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6215
IN SENATE(Prefiled)
January 6, 2016
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Introduced by Sen. HAMILTON -- 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 voluntary limits on ATM
withdrawals
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. This act shall be known and may be cited as the "Banking
2 Consumer Protection Act of 2016".
3 § 2. Section 75-o of the banking law is renumbered 75-p and a new
4 section 75-o is added to read as follows:
5 § 75-o. Voluntary limits on ATM withdrawals. Any bank or credit union
6 operating in this state under a state charter shall permit its consumers
7 to opt in to a program by which ATM withdrawals would be limited to one
8 hundred dollars per day.
9 § 3. This act shall take effect on the one hundred eightieth day after
10 it shall have become a law; provided, however, that effective immediate-
11 ly, the addition, amendment, and/or repeal of any rule or regulation
12 necessary for the implementation of this act on its effective date is
13 authorized to be made and completed on or before such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13090-01-5
