Text: S05002 Text: S05004 Text: S05000 - S05099 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate Resolution 102 as follows: 1 2 #1. By striking page 1, line 3 through page 2, 1 3 line 1, and inserting the following: 1 4 "A Senate Resolution requesting that Congress 1 5 reaffirm the rights of states to regulate automated 1 6 teller machines and the fees and charges assessed by 1 7 financial institutions. 1 8 WHEREAS, the Electronic Funds Transfer Act, 15 1 9 U.S.C. } 1693, adopted by the United States Congress, 1 10 provides a basic framework establishing the rights, 1 11 liabilities, and responsibilities of participants in 1 12 electronic funds transfer systems with its primary 1 13 objective being the protection of individual consumer 1 14 rights; and 1 15 WHEREAS, the Electronic Funds Transfer Act permits 1 16 the individual states to regulate electronic funds 1 17 transfers to the extent that state law is not 1 18 inconsistent with the Electronic Funds Transfer Act, 1 19 and provides that state law is not inconsistent if it 1 20 affords greater protection to consumers than is 1 21 afforded by the Electronic Funds Transfer Act; and 1 22 WHEREAS, Iowa has enacted Iowa Code chapter 527 to 1 23 regulate electronic funds transfers including the 1 24 establishment and operation of automated teller 1 25 machines and related fees, charges, and procedures to 1 26 provide greater protections to consumers than is 1 27 afforded by the Electronic Funds Transfer Act; and 1 28 WHEREAS, certain out-of-state national banks, 1 29 supported by the office of the United States 1 30 Comptroller of the Currency, are attempting to 1 31 judicially preempt the Iowa law in order that 1 32 automated teller machines may be placed and operated 1 33 in Iowa without complying with Iowa law; NOW 1 34 THEREFORE, 1 35 BE IT RESOLVED BY THE SENATE, That the United 1 36 States Congress reaffirm the rights of individual 1 37 states to regulate electronic funds transfers, 1 38 including the rights and liabilities of consumers and 1 39 financial institutions, the operation of automated 1 40 teller machines and remote service units, and related 1 41 fees, charges, and procedures, to the extent not 1 42 inconsistent with the Electronic Funds Transfer Act, 1 43 in order to protect the rights of consumers and all 1 44 other parties associated with electronic funds 1 45 transfers; and 1 46 BE IT FURTHER RESOLVED, That, upon adoption, an 1 47 official copy of this Resolution be delivered to each 1 48 member of Iowa's congressional delegation." 1 49 1 50 2 1 2 2 COMMITTEE ON COMMERCE 2 3 JOHN W. JENSEN, Chairperson 2 4 SR 102.701 78 2 5 mj/cls
Text: S05002 Text: S05004 Text: S05000 - S05099 Text: S Index Bills and Amendments: General Index Bill History: General Index
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