Senate Passed ATM Fee Disclosure Bill
It was announced late Tuesday evening, December 11, 2012 that the Senate passed bill H.R. 4367, the bill to end the ATM dual fee notification requirement under Regulation E and protect ATM operators from frivolous lawsuits.
This bill will now be passed on to President Obama and will be effective upon his signature.
Note that it is still critical that signage be affixed to every ATM Machine and photo’s be taken with date-stamp (to keep on file) should any lawsuit be filed prior to the bill becoming law. Proof of installed placards (signage) is your security to prove you installed it and vandals or others removed it to file the suit. ATM operators must continue to protect themselves until this bill actually becomes law. Visit our blog to keep informed of any new development.
For a rundown of Regulation E and Bill 4367 watch the presentation below.