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 1997 - 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.
Mandates disclosure at the time the consumer contracts for electronic fund transfer services that fees may be imposed for initiating electronic fund transfers from an electronic terminal which is not operated by the issuer of the consumer's access card. Requires the Comptroller General to study the feasibility of requiring specified fee disclosures before the consumer is irrevocably committed to completing any electronic fund transfer by means of an electronic terminal.
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.
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