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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| HOUSE BILL |
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| INTRODUCED BY YOUNGBLOOD, CALTAGIRONE, CRUZ, GEORGE AND W. KELLER, MARCH 28, 2011 |
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| REFERRED TO COMMITTEE ON COMMERCE, MARCH 28, 2011 |
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| AN ACT |
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1 | Requiring certain financial institutions to post transaction |
2 | fees for each automated teller machine transaction; and |
3 | restricting transaction fees for automated teller machines. |
4 | The General Assembly of the Commonwealth of Pennsylvania |
5 | hereby enacts as follows: |
6 | Section 1. Short title. |
7 | This act shall be known and may be cited as the ATM Fee |
8 | Regulatory Act. |
9 | Section 2. Definitions. |
10 | The following words and phrases when used in this act shall |
11 | have the meanings given to them in this section unless the |
12 | context clearly indicates otherwise: |
13 | "ATM." An automated teller machine. |
14 | "Financial institution." A national bank, State bank, |
15 | federally chartered savings bank, State-chartered savings bank, |
16 | federally chartered savings and loan association, federally |
17 | chartered credit union, State-chartered credit union and any |
18 | entity that owns or operates an automated teller machine. |
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1 | Section 3. Disclosure required. |
2 | (a) General rule.--A financial institution shall disclose |
3 | the total transaction fee or surcharge to be imposed for each |
4 | transaction on the screen of the ATM prior to the completion of |
5 | the transaction. The customer shall have the right to cancel the |
6 | transaction after the fee or surcharge is disclosed. |
7 | (b) Notice.--A financial institution shall provide written |
8 | notice to its account holders that a fee may be imposed when the |
9 | account holder uses ATMs owned or operated by another financial |
10 | institution or any national, regional or local ATM network |
11 | whenever a card, code or other means of ATM access is issued by |
12 | the financial institution for the purpose of initiating ATM |
13 | transactions. |
14 | Section 4. Fee restrictions. |
15 | (a) Screen display as prerequisite for fee.--No customer |
16 | shall be liable to pay any fee or surcharge to a financial |
17 | institution for an ATM transaction at an ATM screen unless the |
18 | fee or surcharge is displayed on the ATM screen prior to the |
19 | transaction. |
20 | (b) Telephone transactions.--No customer shall be liable to |
21 | pay any fee or surcharge to any financial institution for any |
22 | ATM transaction initiated via telephone. |
23 | (c) Single fee per transaction.--No customer shall be billed |
24 | for more than one fee per ATM transaction regardless of the |
25 | number of financial institutions involved in the transaction. |
26 | (d) Cash dispensing requirement.--No customer shall be |
27 | liable to pay an ATM fee or surcharge to a financial institution |
28 | that does not dispense cash at all of the institution's branch |
29 | locations. |
30 | Section 5. Effective date. |
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1 | This act shall take effect in 30 days. |
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