SENATE BILL NO. 1292


   September 16, 1998, Introduced by Senators HART, CHERRY and   
        CONROY and referred to the Committee on Financial Services.



        A bill to require certain persons that provide automatic

   teller machine services to disclose information regarding fees

   and charges.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1         Sec. 1.  As used in this act:

 2         (a) "ATM" means an electronic device situated in Michigan,

 3    other than a telephone, facsimile machine, or personal computer

 4    operated by a consumer, through which a consumer initiates an

 5    electronic fund transfer.  The term does not include a

 6    point-of-sale terminal used exclusively to pay for a purchase of

 7    goods or services by transferring funds electronically from a

 8    consumer's credit card arrangement or deposit account at a finan-

 9    cial institution to the terminal provider's account at a

10    financial institution, or a device located on the premises of a

11    customer of a financial institution which is used to execute


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 1    transactions only between that customer and the financial

 2    institution.

 3         (b) "Consumer" means an individual.

 4         (c) "Credit card" means a card or device issued under a

 5    credit card arrangement which gives the card holder the privilege

 6    of obtaining loans from the card issuer.

 7         (d) "Credit card arrangement" means a line of credit issued

 8    by a financial institution to a consumer, which line of credit

 9    may be accessed for the purpose of obtaining a loan by means of a

10    credit card.

11         (e) "Electronic fund transfer" means any transaction con-

12    ducted by a consumer using an ATM that instructs or authorizes a

13    financial institution to debit or credit the consumer's deposit

14    account or credit card arrangement.

15         (f) "Financial institution" means a state or national

16    chartered bank or a state or federal chartered savings and loan

17    association, savings bank, or credit union or an affiliate or

18    subsidiary thereof.

19         (g) "Person" means an individual, corporation, association,

20    partnership, governmental entity, or any other legal entity.

21         (h) "Provider" means a person that owns, operates, or leases

22    an ATM.

23         Sec. 2.  A provider shall not assess or impose a fee or

24    charge for an electronic fund transfer.

25         Sec. 3.  For each transaction involving an ATM, the person

26    using the ATM shall be given the option of receiving information

27    indicating the nature and amounts involved in the transaction and



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 1    the resulting balances of the accounts affected by the

 2    transaction.  The person shall also be given the option of

 3    receiving the information either on a printed statement provided

 4    at the end of the ATM transaction or displayed on the ATM

 5    screen.

 6         Sec. 4.  (1) A person who violates this act is guilty of a

 7    misdemeanor punishable by a fine of not more than $1,000.00 or by

 8    imprisonment for not more than 90 days, or both.

 9         (2) Each transaction completed in violation of this act

10    shall be a separate offense under this section.




































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