HOUSE BILL No. 5243


     October 16, 2001, Introduced by Rep. Stallworth and referred to the Committee on Commerce.


        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:

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           Sec. 1.  As used in this act:

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

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      other than a telephone, facsimile machine, or personal computer

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      operated by a consumer, through which a consumer initiates an

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      electronic fund transfer.  The term does not include a

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

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      goods or services by transferring funds electronically from a

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

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      cial institution to the terminal provider's account at a

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

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      customer of a financial institution that is used to execute


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      transactions only between that customer and the financial

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      institution.

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           (b) "Consumer" means an individual.

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

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      credit card arrangement that gives the card holder the privilege

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      of obtaining loans from the card issuer.

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

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

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

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      credit card.

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

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

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      financial institution to debit or credit the consumer's deposit

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      account or credit card arrangement.

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

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      chartered bank or a state or federal chartered savings and loan

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

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      subsidiary thereof.

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

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      partnership, governmental entity, or any other legal entity.

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

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      an ATM.

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

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      charge against a consumer greater than $1.50 for an electronic

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      fund transfer.







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           Sec. 3.  This act does not limit or prohibit the assessing

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      or imposing of a fee or charge by a financial institution for an

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      electronic fund transfer using a provider's ATM.

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           Sec. 4.  For each transaction involving an ATM, the person

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      using the ATM shall be given the option of receiving information

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      indicating the nature and amounts involved in the transaction and

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      the resulting balances of the accounts affected by the

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      transaction.  The person shall also be given the option of

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      receiving the information either on a printed statement provided

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

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      screen.

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           Sec. 5.  (1) A person who violates this act is guilty of a

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

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      imprisonment for not more than 90 days, or both.

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           (2) Each transaction completed in violation of this act

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      shall be a separate offense under this section.

























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