To amend the Electronic Fund Transfer Act to require notice of certain fees imposed by the operator of an automated teller machine in connection with an electronic fund transfer initiated by a consumer at the machine, and for other purposes.
ATM Fee Reform Act of 1996 - Amends the Electronic Fund Transfer Act to mandate fee disclosures at the time of service by any host electronic terminal operator which imposes a fee for providing host transfer services to a consumer.
Requires each agency responsible for compliance enforcement under the Act to report annually to the Congress on compliance and on regional and national trends in fees imposed by host ATM operators.
Mandates the disclosure to consumers whenever an electronic means of accessing the consumer's account is issued of possible fees for initiating electronic fund transfers.
Requires the Comptroller General to study the feasibility of prohibiting the imposition of an electronic fund transfer fee unless notice has been provided before the consumer is irrevocably committed to completing the transaction.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Subcommittee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.
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