The bill amends Chapter 19-9 of the General Laws by adding a new section, 19-9-21.2, which requires all automated teller machines (ATMs) located within the State of Rhode Island to provide consumers with a free, real-time account balance display or balance inquiry option prior to completing any cash withdrawal transaction. The balance must be clearly and prominently presented on the ATM screen before the consumer is prompted to enter a withdrawal amount, and consumers must have the option to cancel the transaction without incurring any charges.

The bill prohibits banks, credit unions, or ATM operators from imposing any fees for transactions where no money is dispensed, for the required balance disclosure, or for any transaction that has been declined. The regulations apply to all ATMs that permit cash withdrawals, except for those owned, operated, leased, branded, or made available by or on behalf of a financial institution subject to the federal Gramm-Leach-Bliley Act.

Enforcement of this section will be conducted by the Department of Business Regulation, and violations will be considered unfair practices subject to administrative enforcement, including fines and corrective orders as determined by the director. The provisions of this act are set to take effect on January 1, 2027.