Prohibits imposing surcharges on automated teller machines located on state university of New York or city university of New York property.
Summary
Bill S05669 seeks to amend the banking law in New York by prohibiting banks from imposing surcharge fees at automated teller machines (ATMs) located on the properties of the State University of New York (SUNY) and the City University of New York (CUNY). This legislation aims to alleviate financial burdens on students and faculty who rely on these ATMs for cash withdrawals, ensuring that they can access their funds without incurring additional fees. The bill defines 'banking institutions' to include various types of banks and credit unions that operate ATMs on these university properties.
Impact
If enacted, this bill would significantly change the financial landscape for students and staff at SUNY and CUNY by eliminating surcharge fees at ATMs on their campuses. This could lead to increased usage of these ATMs, as users would no longer be deterred by additional costs. Furthermore, it may prompt a review of ATM fee structures across other public institutions in New York, potentially leading to similar legislation in the future.
Sentiment
The general sentiment surrounding Bill S05669 appears to be positive, particularly among students and university staff who would benefit directly from the elimination of surcharge fees. There have been no recorded votes or significant opposition noted in the committee discussions, indicating a potential consensus on the need for this legislation.
Contention
While there is currently no significant contention noted in the discussions or voting history, potential points of contention could arise from banking institutions concerned about the loss of revenue from ATM surcharge fees. Stakeholders may argue about the financial implications for banks operating in these areas, although no formal opposition has been documented at this time.
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Relates to the term "reportable business relationship" as it relates to certain employees of the state university of New York and the city university of New York.
Relates to the term "reportable business relationship" as it relates to certain employees of the state university of New York and the city university of New York.
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