A bill to amend the Electronic Fund Transfer Act (EFTA) and eliminate the physical ATM fee sign requirement is now introduced in the U.S. Senate. U.S. Senator Mike Johanns (R-NE) introduced S. 3204 on May 17. It is similar to H.R. 4367, which was introduced by Missouri U.S. Rep. Blaine Luetkemeyer (R-District 9) and U.S. Rep. David Scott (D-GA) on April 17.
The bill would eliminate the EFTA requirement for a physical ATM fee disclosure notice. Instead, only an electronic disclosure on the screen of any fee that may be incurred by the ATM user would be required.
While maintaining important consumer protections, this helps protect credit unions from frivolous lawsuits. A growing problem across the country finds individuals removing the physical disclosures from ATMs, and then filing lawsuits against financial institutions for failure to comply with the disclosure requirements.
Missouri credit union staff and board members are encouraged to contact Missouri’s U.S. Senators Claire McCaskill and Roy Blunt to urge their support of the ATM disclosure bill, S. 3204. Making the call also provides an additional opportunity to ask for the Senators’ support of S. 2231, the Credit Union Small Business Jobs Act.
Here are the contact options for each office:
District Office Contact Information: http://mccaskill.senate.gov/?p=office_locations
McCaskill general email: http://mccaskill.senate.gov/?p=contact
District Office Contact Information: http://blunt.senate.gov/public/index.cfm/office-locations
Blunt general email: http://blunt.senate.gov/public/index.cfm/contact-form?p=contact-roy