ATM fee disclosure change advances

Lawmakers gave first-round approval Jan. 28 to a bill that would bring state law into conformity with federal law relating to automatic teller machine (ATM) fee disclosure requirements.

LB100, introduced by Syracuse Sen. Dan Watermeier, would eliminate a requirement that an ATM fee notice be affixed to or displayed on an ATM.

Currently, fee notices are required to be affixed to or displayed on ATMs as well as displayed on the ATM screen or on a paper notice issued from the machine after a transaction is initiated and before the consumer is irrevocably committed to complete the transaction.

Watermeier said the current state requirement was patterned after federal ATM disclosure requirements that have since changed. Federal law no longer requires an additional fee notification affixed to or displayed on an ATM, he said.

“Congress recognized that the [additional] requirement was no longer necessary,” he said. “Consumers are provided with adequate protection.”

LB100 advanced to select file on a 41-0 vote.