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Can you summarize WIST 221.0303?
Customer bank communications terminals.
Short Summary
This legal document pertains to customer bank communications terminals. It defines a customer bank communications terminal as a facility through which customers and banks can engage in banking transactions. It includes all necessary equipment for the terminal’s functioning. The document allows banks to acquire, place, and operate customer bank communications terminals at locations other than their main or branch offices, subject to rules established by the division. The terminals must be available for use by any state or national bank and designated customers on a nondiscriminatory basis. Credit unions, savings and loan associations, and savings banks can also request to share the use of these terminals. The document also addresses terminals owned or operated by retailers, stating that the division cannot require them to accept connections or use of the terminals for other purposes. Information transmitted from these terminals can only be used for authorized financial transactions or as permitted by contract or statute. No specific penalties are mentioned in this document.
Whom does it apply to?
Banks, customers, credit unions, savings and loan associations, savings banks
What does it govern?
Customer bank communications terminals
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Wisconsin