Proposednew law that would have significant impact on independent ATM operatorsdetected by ATMIA regulatory monitoring service
SIOUXFALLS, SD, January 17, 2017. Regulatory burdens on ATM operators are notonly increasing at the state level, but also at local and city levels. Two recent examples are Cleveland, Ohio and New York City. Both citieshave proposed new regulations with significant impact on ATMs in retailestablishments – even to the extent of potentially removing some machines inlow volume locations.
Two yearsago, the ATMIndustry Association(ATMIA) implemented regulatory and legislative monitoring services for its USmembers, because of concerns over risks that ATM operators could get caught bysurprise by local lawmakers. Just two weeks ago, ATMIA was alerted to thesudden proposal by the New York City Council of new requirements for contractswith merchants, video surveillance, and daily inspections for skimmingdevices. Fortunately, the co-chair of ATMIA’s Government RelationsCommittee (GRC), Mike Keller, Special Counsel for Cardtronics, was present totestify at a public hearing last Thursday, January 12. Had it not beenfor those alert services, the industry would indeed have been taken by surpriseand may not have had an opportunity to provide important input to considerationof these measures.
A similarsituation arose last month in Cleveland, Ohio where the city council is evenproposing regulations on how ATMs are replenished with cash – which couldresult in frequent and widespread out-of-cash conditions at city ATMs. ATMIA has responded by letter to explain the ramifications, additional securityrisks, and increased costs of doing business that would result from suchproposals.
“Regulatorymonitoring is only one of many advocacy services that ATMIA members benefitfrom,” says David Tente, Executive Director for ATMIA USA. ‘In addition to regulatory and legislative monitoring services, members alsohave free access to a compliance portal that provides an overview of ATMregistration, licensing, and other compliance requirements for all 50 statesand the District of Columbia. We also produce Best Practices manuals,including for physical security and prevention of skimming.”
For anylocal, state, or federal agency that is considering new regulations on ATMsand/or ATM operations, ATMIA serves as a voice for all industry constituentsand is available to answer questions from anyone interested in learning moreabout the industry.