Congress Allow ATM Operators To Remove Fee Placards

Congress has passed new federal rules allowing ATM operators to remove fee notification placards in favor of electronic notifications, according to BankCreditNews.com.

The physical fee placards resulted in around 2,000 lawsuits settled out of court for around $10,000 each after consumers would intentionally remove placards, or use ATMs without such placards on purpose.

The CFPB claims that the cost of using an ATM increased from $1.50 in 1999 to $4 once the placard law took effect.

Read the full story here.