Proposed new law that would have significant impact on independent ATM operators detected by ATMIA regulatory monitoring service
Regulatory burdens on ATM operators are not only increasing at the state level, but also at local and city levels. Two recent examples are Cleveland, Ohio and New York City. Both cities have proposed new regulations with significant impact on ATMs in retail establishments – even to the extent of potentially removing some machines in low volume locations.
Two years ago, the ATM Industry Association (ATMIA) implemented regulatory and legislative monitoring services for its US members, because of concerns over risks that ATM operators could get caught by surprise by local lawmakers. Just two weeks ago, ATMIA was alerted to the sudden proposal by the New York City Council of new requirements for contracts with merchants, video surveillance, and daily inspections for skimming devices. Fortunately, the co-chair of ATMIA’s Government Relations Committee (GRC), Mike Keller, Special Counsel for Cardtronics, was present to testify at a public hearing last Thursday, January 12. Had it not been for those alert services, the industry would indeed have been taken by surprise and may not have had an opportunity to provide important input to consideration of these measures.
A similar situation arose last month in Cleveland, Ohio where the city council is even proposing regulations on how ATMs are replenished with cash – which could result in frequent and widespread out-of-cash conditions at city ATMs. ATMIA has responded by letter to explain the ramifications, additional security risks, and increased costs of doing business that would result from such proposals.
“Regulatory monitoring is only one of many advocacy services that ATMIA members benefit from,” says David Tente, Executive Director for ATMIA USA. “In addition to regulatory and legislative monitoring services, members also have free access to a compliance portal that provides an overview of ATM registration, licensing, and other compliance requirements for all 50 states and the District of Columbia. We also produce Best Practices manuals, including for physical security and prevention of skimming.”
For any local, state, or federal agency that is considering new regulations on ATMs and/or ATM operations, ATMIA serves as a voice for all industry constituents and is available to answer questions from anyone interested in learning more about the industry.
