Banking Group Wants ATM Regulations Relaxed

By  |  May 30, 2012
 | 

The American Bankers Association argued this week that the two separate fee disclosure requirements banks must follow at ATMs are one requirement too many, American Banker notes.

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    According to the ABA, bank customers familiar with the disclosure laws have in some cases ripped the signs off of ATMs, only to turn around and sue the bank shortly thereafter.

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    To combat this practice, the ABA has reached out to state legislators across the country, asking them to pass new laws that eliminate the twofold requirements.

    “Without this important reform, the number of these baseless lawsuits will continue to rise as will the cost of this service to consumers,” the ABA said in a letter written jointly with other trade groups, sent to House members Wednesday.

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