Bill > S517

This bill proposes changes to existing law regarding the disclosure of fees associated with Automated Teller Machines (ATMs), which are referred to as "electronic branches" in the text. Specifically, it mandates that any ATM with a screen must clearly display the amount of any fee a customer will incur before they can proceed with a transaction, and customers must be given the option to cancel. For ATMs without screens, a notice must be posted nearby informing customers that fees may apply. Furthermore, any applicable fees must be clearly itemized on the customer's receipt and on their periodic bank statement, detailing each transaction where an electronic funds transfer was made. The bill also clarifies that employees of financial institutions or their affiliates can only operate or service these electronic branches on a temporary basis for specific purposes like training or personal use, not for regular operation.