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Arkansas Regulatory Announcements

Arkansas Governor signs H.B. 1641 on March 24, 2015
AR H.B. 1641 – Surcharges

3/24/15: Summary: The state of Arkansas has adopted H.B. 1641 effective March 24, 2015 that allows state chartered banks to charge usage fees for customer-bank communication terminals in excess of $2 or 2% or the gross amount of the transaction. This modification places state-chartered banks equal with banks chartered out-of-state for transaction surcharge.

The statute defines “customer-bank communication terminals” as “any electronic device or facility, other than a point-of-sale terminal, together with all associated equipment, structures, and systems, through or by means of which a customer and a bank may engage in any banking transaction, whether transmitted to the banking institution instantaneously or otherwise, specifically including automatic teller machines. “