Text: SR00101 Text: SR00103 Text: SR00100 - SR00199 Text: SR Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 SENATE RESOLUTION NO.
1 2 BY JENSEN and GRONSTAL
1 3 A Senate Resolution requesting that Congress
1 4 reaffirm the rights of states to regulate automated
1 5 teller machines and the fees and charges assessed by
1 6 financial institutions.
1 7 WHEREAS, the Electronic Funds Transfer Act, 15
1 8 U.S.C. } 1693, adopted by the United States Congress,
1 9 provides a basic framework establishing the rights,
1 10 liabilities, and responsibilities of participants in
1 11 electronic funds transfer systems with its primary
1 12 objective being the protection of individual consumer
1 13 rights; and
1 14 WHEREAS, the Electronic Funds Transfer Act permits
1 15 the individual states to regulate electronic funds
1 16 transfers to the extent that state law is not
1 17 inconsistent with the Electronic Funds Transfer Act,
1 18 and provides that state law is not inconsistent if it
1 19 affords greater protection to consumers than is
1 20 afforded by the Electronic Funds Transfer Act; and
1 21 WHEREAS, Iowa has enacted Iowa Code chapter 527 to
1 22 regulate electronic funds transfers including the
1 23 establishment and operation of automated teller
1 24 machines and related fees, charges, and procedures to
1 25 provide greater protections to consumers than is
1 26 afforded by the Electronic Funds Transfer Act; and
1 27 WHEREAS, certain out-of-state national banks,
1 28 supported by the office of the United States
1 29 Comptroller of the Currency, are attempting to
1 30 judicially preempt the Iowa law in order that
2 1 automated teller machines may be placed and operated
2 2 in Iowa without complying with Iowa law; NOW
2 3 THEREFORE,
2 4 BE IT RESOLVED BY THE SENATE, That the United
2 5 States Congress reaffirm the rights of individual
2 6 states to regulate electronic funds transfers,
2 7 including the rights and liabilities of consumers and
2 8 financial institutions, the operation of automated
2 9 teller machines and remote service units, and related
2 10 fees, charges, and procedures, to the extent not
2 11 inconsistent with the Electronic Funds Transfer Act,
2 12 in order to protect the rights of consumers and all
2 13 other parties associated with electronic funds
2 14 transfers; and
2 15 BE IT FURTHER RESOLVED, That, upon adoption, an
2 16 official copy of this Resolution be delivered to each
2 17 member of Iowa's congressional delegation.
2 18 SR 102
2 19 mj/cc/26
Text: SR00101 Text: SR00103 Text: SR00100 - SR00199 Text: SR Index Bills and Amendments: General Index Bill History: General Index
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