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Can you summarize NYCL GBS 399-Y-1?
Miscellaneous > Automated teller machines transaction denial; fees prohibited
Short Summary
This section of the Consolidated Laws of New York, under the General Business category, governs the use of automated teller machines (ATMs). It defines key terms such as ‘automated teller machine operator’ and ‘automated teller machine’. The section prohibits automated teller machine operators and banking institutions from imposing fees on consumers for any transaction that is denied or terminated, preventing the consumer from completing the transaction. Failure to comply with this requirement may result in a civil penalty of up to two hundred fifty dollars per transaction. There are no specific exemptions mentioned in this section.
Whom does it apply to?
Automated teller machine operators and banking institutions
What does it govern?
Automated teller machines transaction denial; fees prohibited
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
A civil penalty not to exceed two hundred fifty dollars per transaction
Jurisdiction
New York