News

NY legislators discuss ATM proposals

January 13, 2004

ALBANY, N.Y. - Newly appointed New York state Assembly Banking Committee head Catherine Nolan (D-Queens) said that the committee is considering reintroducing legislation that would require a 911-linked "panic button" at ATMs.

Although the measure is opposed by the banking industry and the state Senate, the Assembly will look at some middle ground for the measure, Nolan said on Jan. 12 during the annual Albany lobbying day of the New York Bankers Association at Albany's Crowne Plaza Hotel.

(See related story NY lawmaker questions tactics of ATM 'panic button' manufacturer.)

According to a report in the Business Review, State Senate Banking Committee Chairman Hugh Farley (R-Schenectady) said that his house was also looking at legislation designed to prevent criminals from using non-bank ATMs as a vehicle for getting personal and financial data from users.

Similar legislation is being considered in California and reportedly on the federal level. (See related stories NY senator wants ATM operators to be licensed and Calif. lawmakers intro bill to regulate independent ATMs)

Nolan said the Assembly's Banking Committee also will consider legislation requiring banks to install plexiglass shields, similar to ones found at many urban self-service gas stations, at teller stations as a way to combat bank robberies. The Assembly will also consider a new law making bank robbery a distinct crime, which would allow tougher penalties to be imposed.

The number of bank robberies in the state increased by almost 64 percent in 2003, Nolan said.

About 150 members of the New York Bankers Association, representing 220,000 employees and more than $1 trillion in assets, as well as 10 of the 20 largest banking chains, attended the annual gathering, according to the Business Review.