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Thursday, April 13, 2017

NAC issues alert: Illinois legislature proposes $1 ATM fee caps

The National ATM Council Inc. issued an alert Thurs., April 13, 2017, asking stakeholders in the ATM industry to help the council respond to proposed ATM fee caps in Illinois. "House Bill 1274 was recently amended in the Illinois State Legislature to cap ATM fees at $1 per transaction (not clear whether this is $1 for the ATM provider and $1 for the financial institution – or just $1 total)," NAC stated.

The council added that "the proposal is being touted as a 'consumer protection' measure – but as we in the ATM industry know – would instead eliminate virtually all of the State's current ATM base – thereby severely harming those consumers it purportedly seeks to protect."

NAC is asking that all ATM ISOs, IADs and vendors who own, operate or otherwise support ATMs in Illinois to contact NAC as soon as possible at bruce@natmc.org to receive more information and to become a part of NAC's grassroots response team in Illinois.

NAC is dedicated to ethically and effectively representing the business interests of ATM owners, operators and suppliers in their efforts to provide safe, secure and convenient delivery of cash to consumers throughout the United States. end of article

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