Bill Text: NY S02881 | 2023-2024 | General Assembly | Introduced

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Bill Title: Requires ATM machines to release ATM cards with EVM chips prior to disbursing cash or a receipt; defines EVM chip and related terms.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO BANKS [S02881 Detail]

Download: New_York-2023-S02881-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2881

                               2023-2024 Regular Sessions

                    IN SENATE

                                    January 25, 2023
                                       ___________

        Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks

        AN ACT to amend the banking law, in relation to requiring  ATM  machines
          to  release  ATM  cards  with  EVM chips prior to disbursing cash or a
          receipt

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Section 75-b of the banking law is amended by adding four
     2  new subdivisions 10, 11, 12, and 13 to read as follows:
     3    10. "EVM chip" means a data storage chip that implements the  Europay,
     4  Mastercard and Visa technical standard.
     5    11.  "Chip  card" means an automated teller machine card, credit card,
     6  or other form of secure-payment card with an  EVM  chip  inset  for  the
     7  purposes of customer data storage.
     8    12.  "Card  dipping"  means  the  insertion of a chip card into a card
     9  reader to enable customer data to be read off the EVM chip.
    10    13. "Chip enabled automatic teller machine" means an automatic  teller
    11  machine that reads customer data from a chip card and uses card dipping.
    12    § 2. Section 75-c of the banking law is amended by adding a new subdi-
    13  vision 4 to read as follows:
    14    4.  Notwithstanding  the  provisions of section seventy-five-i of this
    15  article, no newly installed chip enabled automatic teller machine  shall
    16  disburse  cash  or  print  a deposit receipt without first releasing the
    17  card to the customer and the customer  withdrawing  the  card  from  the
    18  reader.
    19    § 3. This act shall take effect on the one hundred eightieth day after
    20  it  shall  have  become a law and shall apply to any ATM installed after
    21  such date.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04678-01-3