CFPB Regulation Implements Industry-Supported Legislation Eliminating the ATM Fee Placard Requirement
April 1, 2013
Last year, Congress enacted legislation (Public Law 112-216, amending the Electronic Fund Transfer Act) eliminating the requirement to post a physical fee notice on automated teller machines, giving banks and other ATM operators much needed relief from frivolous law suits.
Last week, the CFPB issued a final rule amending Regulation E to conform to that legislation. See CBA’s Regulatory Compliance Bulletin for more information.