79R3582 HLT-D
By: Leibowitz H.B. No. 694
A BILL TO BE ENTITLED
AN ACT
relating to disclosure of electronic terminal withdrawal limits;
providing a civil penalty.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter C, Chapter 59, Finance Code, is
amended by adding Section 59.203 to read as follows:
Sec. 59.203. DISCLOSURE OF WITHDRAWAL LIMIT BY OPERATOR OF
ELECTRONIC TERMINAL. (a) This section applies to an electronic
terminal operator who:
(1) operates an electronic terminal at which a user
initiates electronic fund transfers; and
(2) is not the financial institution with which the
user has the account from which the transfer is made.
(b) An electronic terminal operator required by 15 U.S.C.
Section 1693b to give notice to the electronic terminal user of any
fee imposed on the user for providing electronic fund transfer
services shall also:
(1) disclose to the user of the electronic terminal
any limit imposed by the operator of the electronic terminal on a
withdrawal from the electronic terminal before the transaction is
completed; and
(2) allow the user to cancel the transaction without
incurring any fee.
(c) The notice required under Subsection (b) must be
displayed by the electronic terminal at the time service is
provided and posted in a prominent and conspicuous location on or at
the electronic terminal at which the electronic fund transfer is
initiated by the user.
(d) An electronic terminal operator who violates this
section is liable for a civil penalty of $500 for each electronic
terminal not in compliance with this section. The attorney general
may bring an action to recover the civil penalty.
SECTION 2. This Act takes effect September 1, 2005.