Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
NEW: N.Y.'s Gov. Cuomo Signs ATM Disclosure Bill
ALBANY, N.Y. (8/1/13, UPDATED 3 p.m. ET)--New York Gov. Andrew Cuomo today signed credit union-supported legislation that eliminates the requirement of physical fee disclosures on ATMs and brings state law into conformity with the federal law signed last December by President Barack Obama.
 
The Credit Union Association of New York said it has been advocating aggressively for this legislation, citing burdensome ATM fee disclosure regulations that created legal and financial issues for many credit unions.
 
The Assembly bill was introduced by Assemblywoman Annette Robinson (D-Metropolitan), and Sen. Joseph Griffo (R-Utica-Rome/Central) introduced the Senate bill.
 
"We commend Gov. Cuomo, Assemblywoman Robinson and Sen. Griffo for their outstanding leadership and support on this important issue," said CUANY President/CEO William J. Mellin. He acknowledged "the grassroots efforts of many credit union leaders, which played an important role in this legislative victory."
 
Credit unions and other financial institutions across the nation had experienced nuisance lawsuits from people who would remove the notices from the ATMs, then claim disclosure violations. The Credit Union National Association and state leagues advocated strongly for an amendment to the Electronic Funds Transfer Act, and the Consumer Financial Protection Bureau in March implemented a rule to eliminate redundant ATM disclosures.


RSS





print
News Now LiveWire
Follow @cumagazine for even more #CUNAGAC live-action reports March 8-12 #creditunion #creditunions #UniteForGood
1 hour ago
Make sure 2 follow us @NewsNowLiveWire ,and @cuna , during March 8-12 Governmental Affairs Conference #CUNAGAC #crashthegac15 #UniteForGood
1 hour ago
Memberships, loans continue positive trend: @CUNA's monthly survey #NewsNow http://t.co/QnAlJ4DB3O
1 hour ago
Grand opening of @McGrawHillFCU's branch puts high touch on member service #NewsNow http://t.co/RlnJNrcwM8 #Backat55
1 hour ago
20 breakout sessions available at @CUNA's April lending school #creditunions http://t.co/eTK0fVO0RK
17 hours ago