Capitol Hill lawmakers are moving ahead with legislation that would prevent what critics say are frivolous lawsuits against banks, credit unions and stores that operate ATMs by exploiting a loophole in federal disclosure laws.
The House this week unanimously passed an amendment to the 1999 Electronic Fund Transfer Act to address the quirk in the law, and theSenate is expected to act on the proposal this week.
The law now requires ATM operators to post two notices about the fees customers will be charged for withdrawing cash. One notice is a digital message displayed on the screen before the transaction is made. The second notice is an actual sign, known as a placard, that is attached to the outside of the machine or nearby.
3 comments:
Next thing you know the fed gov't gonna require someone to stand there with the fee tattooed on their foreheads.
Common sense dictates to look for the fee amount and if you can't find it then go somewhere else or if possible ask someone.
Anything attached to the machine is useless since customers can just remove it.
I don't know why anyone used the stupid things anyway. No way I'm paying anyone a fee to use my own money.
Why aren't they taking aim at the presidential scam? The whole country is collapsing and all these idiots want to do is pass more stupid laws to justify their existence.
So much for intelligent comments on this post.
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