Saturday, April 28, 2012

Redundant ATM Signage: Summarizing the Issues

In a five-minute interview, Kurt Helwig, president and CEO of the Electronic Funds Transfer Association, analyzes the issues involved in the recent spate of lawsuits involving fee notification signage on ATMs. For a background on the issue, scroll back to previous posts "ATM Fee Signage (Continued)," posted January 2012 and "ATM Fee Disclosure: Updating Regulations to Limit Jackpot Justice," posted December 2012.

Last week Representatives Blaine Leutkemeyer (R-MO) and David Scott (D-GA) introduced a bi-partisan measure that would eliminate the requirement for redundant physical signage on ATM terminals. Last week Reps. Leutkemeyer and Scott sent a letter to their colleagues inviting co-sponsors on the bill. Read that letter here.) For analysis of the Leutkemeyer-Scott bill see our post below of April 20, "H.R. 4367: Beauty in Simplicity."

In this short interview, Mr. Helwig lays out the issues and history of the problem and looks at the chances of success for legislative or regulatory relief.

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