BILL ANALYSIS
Senate Research Center H.B. 1795
80R11509 DWS-F By: Veasey (Shapleigh)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
In recent decades, automatic teller machines (ATMs), have become a mainstay of American life. Located both at banks and in other publicly accessible locations, ATMs provide customers with a great deal of convenience. However, security concerns exist in the public consciousness regarding the use of ATMs, particularly during night time hours. New security measures will make ATM use safer, benefiting banks and customers.
H.B. 1795 authorizes the Finance Commission of Texas to establish rules that enhance customer security through the implementation of new technologies.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 59.310, Finance Code, by adding Subsection (b-1) to authorize the rules that are adopted as required by the Finance Commission of Texas and the Credit Union Commission to provide for a system that enhances customer security, taking into account emerging technologies, the availability of networks to exchange information, and the potential compliance costs for financial institutions and other unmanned teller machine service providers.
SECTION 2. Effective date: upon passage or September 1, 2007.