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United States Code (Last Updated: May 24, 2014) |
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Title 15. COMMERCE AND TRADE |
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Chapter 41. CONSUMER CREDIT PROTECTION |
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SubChapter VI. ELECTRONIC FUND TRANSFERS |
§ 1693b. Regulations
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(a) Prescription by the Bureau and the Board (1) In general Except as provided in paragraph (2), the Bureau shall prescribe rules to carry out the purposes of this subchapter.
(2) Authority of the Board The Board shall have sole authority to prescribe rules— (A) to carry out the purposes of this subchapter with respect to a person described in section 5519(a) of title 12; and (B) to carry out the purposes of section 1693o–2 of this title. In prescribing such regulations, the Board shall: (1) Federal, State, or local law; or (ii) otherwise supersedes the application of any State or local law. (3) Fee disclosures at automated teller machines (A) In general The regulations prescribed under paragraph (1) shall require any automated teller machine operator who imposes a fee on any consumer for providing host transfer services to such consumer to provide notice in accordance with subparagraph (B) to the consumer (at the time the service is provided) of— (i) the fact that a fee is imposed by such operator for providing the service; and (ii) the amount of any such fee. (B) Notice requirement The notice required under clauses (i) and (ii) of subparagraph (A) with respect to any fee described in such subparagraph shall appear on the screen of the automated teller machine, or on a paper notice issued from such machine, after the transaction is initiated and before the consumer is irrevocably committed to completing the transaction.
(C) Prohibition on fees not properly disclosed and explicitly assumed by consumer No fee may be imposed by any automated teller machine operator in connection with any electronic fund transfer initiated by a consumer for which a notice is required under subparagraph (A), unless— (i) the consumer receives such notice in accordance with subparagraph (B); and (ii) the consumer elects to continue in the manner necessary to effect the transaction after receiving such notice. (D) Definitions For purposes of this paragraph, the following definitions shall apply: (i) Automated teller machine operator The term “automated teller machine operator” means any person who— (I) operates an automated teller machine at which consumers initiate electronic fund transfers; and (II) is not the financial institution that holds the account of such consumer from which the transfer is made. (ii) Electronic fund transfer The term “electronic fund transfer” includes a transaction that involves a balance inquiry initiated by a consumer in the same manner as an electronic fund transfer, whether or not the consumer initiates a transfer of funds in the course of the transaction.
(iii) Host transfer services The term “host transfer services” means any electronic fund transfer made by an automated teller machine operator in connection with a transaction initiated by a consumer at an automated teller machine operated by such operator.
(e) Deference No provision of this subchapter may be construed as altering, limiting, or otherwise affecting the deference that a court affords to— (1) the Bureau in making determinations regarding the meaning or interpretation of any provision of this subchapter for which the Bureau has authority to prescribe regulations; or (2) the Board in making determinations regarding the meaning or interpretation of section 1693o–2 of this title.
References In Text
Section 1693o of this title, referred to in subsec. (a)(1), was in the original “section 917”, and was translated as meaning section 918 of Pub. L. 90–321 to reflect the probable intent of Congress and the renumbering of section 917 of Pub. L. 90–321 as section 918 by Pub. L. 111–24, title IV, § 401,
Amendments
2012—Subsec. (d)(3)(B). Pub. L. 112–216, in subpar. heading, substituted “requirement” for “requirements” and, in text, substituted “The notice required under clauses (i) and (ii)” for
“(i) On the machine.—The notice required under clause (i) of subparagraph (A) with respect to any fee described in such subparagraph shall be posted in a prominent and conspicuous location on or at the automated teller machine at which the electronic fund transfer is initiated by the consumer.
“(ii) On the screen.—The notice required under clauses (i) and (ii)”
and struck out “, except that during the period beginning on
2010—Pub. L. 111–203, § 1084(1), substituted “Bureau” for “Board” wherever appearing in subsecs. (b) to (d).
Subsec. (a). Pub. L. 111–203, § 1084(3)(A), substituted “Prescription by the Bureau and the Board” for “Prescription by Board” in heading that had been supplied editorially and substituted initial pars. (1) and (2), relating to the Bureau’s prescription of rules and authority of the Board, for first sentence of former introductory provisions which read as follows: “The Board shall prescribe regulations to carry out the purposes of this subchapter.” Second sentence of former introductory provisions was redesignated as concluding provisions of par. (2) to reflect the probable intent of Congress.
Subsec. (c). Pub. L. 111–203, § 1073(a)(2), inserted “or remittance transfers” after “electronic fund transfers”.
Subsec. (e). Pub. L. 111–203, § 1084(3)(B), added subsec. (e).
1999—Subsec. (d)(3). Pub. L. 106–102 added par. (3).
1996—Subsec. (d). Pub. L. 104–193, § 907, which directed the amendment of subsec. (d), was not executed because of similar amendment by Pub. L. 104–193, § 891. See below. Section 907 of Pub. L. 104–193 provided that subsec. (d) was to be amended by inserting subsec. (d) heading, by designating existing provisions as par. (1) and inserting heading, and by adding a new par. (2) reading as follows:
“(2) State and local government electronic benefit transfer programs.—
“(A) Exemption generally.—The disclosures, protections, responsibilities, and remedies established under this subchapter, and any regulation prescribed or order issued by the Board in accordance with this subchapter, shall not apply to any electronic benefit transfer program established under State or local law or administered by a State or local government.
“(B) Exception for direct deposit into recipient’s account.—Subparagraph (A) shall not apply with respect to any electronic funds transfer under an electronic benefit transfer program for deposits directly into a consumer account held by the recipient of the benefit.
“(C) Rule of construction.—No provision of this paragraph may be construed as—
“(i) affecting or altering the protections otherwise applicable with respect to benefits established by Federal, State, or local law; or
“(ii) otherwise superseding the application of any State or local law.
“(D) Electronic benefit transfer program defined.—For purposes of this paragraph, the term ‘electronic benefit transfer program’—
“(i) means a program under which a government agency distributes needs-tested benefits by establishing accounts to be accessed by recipients electronically, such as through automated teller machines, or point-of-sale terminals; and
“(ii) does not include employment-related payments, including salaries and pension, retirement, or unemployment benefits established by Federal, State, or local governments.”
Pub. L. 104–193, § 891, designated existing provisions as par. (1), inserted subsec. heading and par. (2), and substituted “If” for “In the event that”.
Effective Date Of Amendment
Amendment by section 1073(a)(2) of Pub. L. 111–203 effective 1 day after
Amendment by section 1084(1), (3) of Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.