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2015 SESSION

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SB 875 Financial institutions; automated teller machines and other terminals, service facilities.

Introduced by: John A. Cosgrove | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Financial institutions; automated teller machines. Excludes any automated teller machine, cash-dispensing machine, or similar electronic or computer terminal from the definition of a bank's branch office or credit union's service facility. By excluding such items from the scope of what constitutes a bank branch office or credit union service facility, the measure removes the requirement that their locations be approved by the State Corporation Commission (SCC). The measure also removes requirements that (i) in-state banks provide notice to, and receive approval from, the SCC before establishing automated teller machines and (ii) out-of-state banks provide to the SCC a copy of the notice or application, or both, sent to their home state regulator. This bill is identical to HB 1629.


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