Wednesday, May 30, 2012
Sen. Michael Johanns, R.-Neb., ranking member of the Senate Banking Subcommittee on Security, International Trade and Finance, introduced S.3204. The bill resembles legislation introduced in the House, HR4367, calling for an end to the requirement that a fee notice be physically attached to the ATM.
Johanns' Press Secretary, Paul Donahue, said the problem is current law requires a fee disclosure notice on the ATM and an electronic disclosure on the ATM screen. "ATM operators have been faced with expensive, frivolous lawsuits by users who remove the physical placard and then sue for noncompliance," he said. "Sen. Johanns' bill would eliminate the duplicative requirement of the physical placard."
Donahue said the bill is supported by the American Bankers' Association, Independent Community Bankers of America, the Credit Union National Association, and the National Association of Convenience Stores.
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