HOUSE DOCKET, NO. 1961        FILED ON: 1/19/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3759

The Commonwealth of Massachusetts

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PRESENTED BY:

Sarah K. Peake

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to ATM receipts.

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PETITION OF:

HOUSE DOCKET, NO. 1961        FILED ON: 1/19/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3759

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Third General Court
(2023-2024)

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An Act relative to ATM receipts.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Section 9 of chapter 167B of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by striking out subsection (a) and inserting in place thereof the following subsection:-

(a) For each electronic fund transfer initiated by a consumer from an electronic branch or point-of-sale terminal, the financial institution holding such consumer's account shall, directly or indirectly at the time the transfer is initiated, make available to the consumer written documentation of such transfer. The documentation shall clearly set forth to the extent applicable:

(1) the amount involved and the calendar date the transfer is initiated;

(2) the type of transfer and the type of the consumer's account or accounts with the financial institution from which or to which funds are transferred;

(3) a number or code that uniquely identifies the consumer initiating the transfer, the consumer's account or accounts, or the access device used to initiate the transfer;

(4) the identity of any third party to whom or from whom funds are transferred;

(5) the location or identification of the electronic branch or point-of-sale terminal involved;

(6) a transfer identification number which provides a permanent audit trail; and

(7) a list of contact information for the consumer, if the consumer may be experiencing financial abuse, which shall include, but not limited to:

(i) the financial institution holding the consumer’s account;

(ii) a non-profit that provides advice and support involving financial management;

(iii) the national domestic violence hotline;

(iv) the Massachusetts behavioral health help line;

(v) the Attorney General’s office; and

(vi) 911 if the consumer is in immediate danger.

The information required to be disclosed under clauses (4), (5) and (7) of this subsection shall be provided in readily understandable language or capable of being explained in readily understandable language.