Congress Passes Bill To End ATM Fee Sticker Strike Suits

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Explore:  ATMs EFTA

[authors: Alan S. Kaplinsky, Burt M. Rublin]

The U.S. Senate has just joined the House of Representatives in approving a bill (H.R. 4367) amending the Electronic Fund Transfer Act to eliminate the requirement that a fee disclosure be placed in a prominent and conspicuous location on or at an automated teller machine.

The requirement had spawned a cottage industry of strike suits against ATM owners and operators around the country. Once the bill is signed into law by the President, the fee disclosure will only need to be made on the ATM screen.

Attorneys in Ballard Spahr’s Consumer Financial Services Group regularly counsel bank clients regarding ATM compliance. For further information, please contact Practice Leader Alan S. Kaplinsky at 215.864.8544 or kaplinsky@ballardspahr.com, or Burt M. Rublin at 215.864.8116 or rublin@ballardspahr.com.

Topics:  ATMs, EFTA

Published In: General Business Updates, Elections & Politics Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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