An Act to protect users of electronic branches
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to establish panic alarms in electronic branches, which are online banking services. It seeks to improve security and provide a way for users to quickly report emergencies or concerns while using these digital platforms. The bill’s focus is on ensuring user safety and responsiveness within the context of online banking. It builds upon previous attempts to implement similar safety measures in other settings.
Key provisions
- Requires electronic branches to have panic alarm functionality.
- Specifies procedures for activating and utilizing panic alarms.
- Addresses response protocols for reported emergencies.
- Mandates reporting of panic alarm activations to relevant authorities.
- Establishes guidelines for the maintenance and testing of panic alarm systems.
- Requires financial institutions to provide clear instructions to users on how to access and utilize the panic alarms.
- Defines the scope of ‘electronic branches’ for the purposes of this legislation.
Who is affected
- Users of electronic banking services
- Financial institutions operating electronic branches
- State government agencies responsible for financial regulation
Notable changes
- This bill introduces specific requirements for panic alarms within electronic branches, expanding upon broader emergency response measures.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Bradley H. Jones Jr.
Cosponsor
John Walsh
Arguments
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