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Virginia Regulatory Announcements

VA H.B. 1629 - ATM Licensing Pending Governor Approval

3/2/15: Virginia H.B. 1629 has passed both the Virginia Senate and House unanimously. The bill will be referred to Governor Terry McAuliffe (D) for his consideration. The Governor has 30 days to act on the measure before it automatically becomes law without his signature. The Governor may sign the bill, veto the bill or make recommendations and send the bill back to the General Assembly.

Summary: Current version (2/16/2015): Establishes that branch office does not include any automated teller machine, cash-dispensing machine, or similar electronic or computer terminal, regardless of whether it is located on bank premises or premises properly considered part of an authorized office of the bank or receives or records deposits, disburses loan proceeds or provides for electronic fund transfers. States that no application to, or approval from, the State Corporation Commission shall be required for a bank to establish or operate an automated teller machine, cash-dispensing machine or similar electronic or computer terminal, regardless of whether it  is located on bank premises or premises properly considered part of an authorized office of the bank or receives or records deposits, disburses loan proceeds or provides for electronic fund transfers. Authorizes a state bank to establish and operate such automated teller machines, cash-dispensing machines, or similar electronic or computer terminals in the Commonwealth, provided the bank complies with all Commonwealth and federal laws and regulations applicable to such machines and terminals. Authorizes an out of state bank to establish and operate such automated teller machines, cash-dispensing machines, or similar electronic or computer terminals in the Commonwealth, provided the bank complies with all Commonwealth, home state and federal laws applicable to such machines and terminals. States that service facility does not include any automated teller machine, cash-dispensing machine, or similar electronic or computer terminal, regardless of whether it is located on credit union premises or premises properly considered part of an authorized office of the credit union or receives or records deposits or disburses loan proceeds. 

Current version (2/16/2015): http://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+HB1629S1 

Amended version (1/20/2015): http://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+HB1629H1 

Introduced version: http://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+HB1629 

Effective Date:  July 1 following adjournment of the regular session


Virginia H.B. 1629 passed as substituted in Committee on Commerce and Labor on 1/20/15

1/22/15: The following Stateside Alert was published on Wednesday, January 21, 2015 regarding VA H.B.1629. This measure was prefiled and referred to Committee on Commerce and Labor on January 8, 2015. The hearing was held and the substituted version passed Committee on January 20, 2015. The measure may next be heard on the floor. Similar legislation was introduced as S.B. 875 by Senator John Cosgrove (R).
This does not appear to impact ATM operators.
Virginia H.B. 1629 – ATM Licensing

Sponsor: Delegate Kathy Bryon (R)
Summary: Current version (1/20/2015): Excludes any automated teller machine, cash-dispensing machine, or similar electronic or computer terminal from the definition of a credit union's service facility. Provides that a bank may establish and operate automated teller machines at which deposits are received or recorded and loan proceeds are disbursed and that provide for electronic fund transfers by the bank's customers, provided the bank complies with the Electronic Fund Transfer Act.

Current version (1/20/2015): http://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+HB1629H1

Introduced version: http://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+HB1629

Effective Date: July 1 following adjournment of the regular session

Meta ATM Team