Section 14.04. Restrictions on access prohibited.

 

(1)   General provisions. Except as provided in sub. (2) , no bank may directly or indirectly acquire, place or operate a customer bank communications terminal, and no bank may participate in the acquisition, placement or operation of a customer bank communications terminal, unless the terminal is available on a nondiscriminatory basis to the following financial institutions and their designated customers:

(a) Any financial institution that has its home office in this state;

(b) Any other savings and loan association which is qualified to do business in this state and has obtained the written consent of a savings and loan association that has its home office in this state and is making use of the terminal;

(c) Any other bank which is qualified to do business in this state and has obtained the written approval of a bank that has its home office in this state and is making use of the terminal; and

(d) Any other credit union which is qualified to do business in this state and has obtained the written consent of a credit union that has its home office in this state and is making use of the terminal.

(2)   Exceptions. The temporary limitation of access to a customer bank communications terminal to designated customers of designated financial institutions for reasonable test periods determined by the administrator of the division of banking will not be deemed in violation of this section if approved by the administrator of the division of banking in writing. The administrator of the division of banking may approve such limitations if:

(a) The administrator of the division of banking considers it necessary or desirable to permit restricted operation during periods of testing or experimentation; or,

(b) The administrator of the division of banking determines that the accommodation of additional users is beyond the capacity of existing equipment and a good faith effort is being made to accommodate them within a reasonable period of time determined by the administrator of the division of banking.

Cr. Register, November, 1976, No. 251 , eff. 12-1-76; am. (1) (b) and (c), cr. (1) (d), Register, February, 1978, No. 266 , eff. 3-1-78.