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Can you summarize NERS 8-157.01?
BANKS AND BANKING > Establishing financial institution; automatic teller machines; use; availability; user financial institution; switch; use and access; duties.
Short Summary
This legal document governs the establishment and maintenance of automatic teller machines (ATMs) for banking transactions. It allows establishing financial institutions to set up and operate ATMs for various banking transactions, such as deposits, withdrawals, fund transfers, and account inquiries. User financial institutions can access and use these ATMs by paying an automatic teller machine usage fee. The document ensures that ATMs are made available on a nondiscriminating basis for Nebraska customers of user financial institutions. It also outlines the requirements for switches, which facilitate the processing of Nebraska ATM transactions. The document does not consider ATM usage fees charged between affiliate financial institutions as discrimination. The director has the authority to terminate or suspend the use of ATMs or switches if they are not operated in compliance with the nondiscriminating basis requirements. The document also addresses the notice requirements for automatic teller machine surcharges, the establishment of point-of-sale terminals, and the participation of financial institutions in national ATM programs. It further clarifies that nonbank employees can assist in ATM transactions without engaging in the business of banking. The document also covers the filing requirements for switches operating in Nebraska. Overall, this document regulates the use, availability, and access to ATMs by financial institutions and their customers in Nebraska.
Whom does it apply to?
Establishing financial institutions, user financial institutions, and switches
What does it govern?
Establishing and maintaining automatic teller machines (ATMs) for banking transactions
What are exemptions?
No specific exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Nebraska