ATM Fee Disclosure Bill: Federal, State Requirements

Monday, January 07, 2013 8:46:00 AM

 

With the attention on the new ATM Fee Disclosure Bill – H.R. 4367 eliminating the federal requirement to have a physical notice of fees posted on the outside of ATM machines signed into law on Thursday, December 20th, 2012, credit unions should be aware that the new law only eliminates the requirement under federal law and several states have their own requirements for ATM fee disclosure.

The State of New Jersey’s statute, ‘17:16K-17 Required display on automated teller machine’, addressing physical notices on machines, requires ATM owners to provide a sticker on the machine or notice on the screen that "indicates the name and contact telephone number of the operator of the automated teller machine" .

Click here for a summary of the state laws related to these requirements that CUNA State Government Affairs recently compiled.

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