House Passes Bill To Ease ATM Fee Disclosure Rules

Law360, New York (July 9, 2012, 8:33 PM EDT) -- The U.S. House of Representatives on Monday unanimously passed a bill that would eliminate the requirement for ATM operators to post a notice of transaction fees on the outside of their machines, given that ATM users also receive the disclosure on-screen.

The House voted 371-0 to pass H.R. 4367. Under current regulations, ATM operators must post fee disclosure placards on or near the machines in addition to the fee notices that appear on the screens, which lawmakers say is redundant.

The banking industry and the bill's...
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