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Michigan Credit Union League Home » Information Services » Publications » News Articles  

ATM Sticker Fee Disclosure No Longer Required   (Misc News: March 26, 2013)

In December 2012, Congress passed and President Barack Obama signed legislation amending the Electronic Fund Transfers Act to eliminate the federal requirement that a fee notice be posted on or at automated teller machine.

According to the CFPB's blog from March 21, the bureau is now changing these rules

Prior to the changes, the EFTA required ATM fee disclosures to be posted “in a prominent and conspicuous location on or at the ATM” and on the screen or on paper issued from the ATM. ATM operators will now only have to provide the on-screen or paper disclosure, which includes the amount of the fee to be charged and is provided before the consumer is committed to the transaction. The final rule has been published in the Federal Register and is effective immediately.

 
   
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