As part of the statewide effort to meet with federal lawmakers at home during the Congressional recess period, Springfield credit union leaders met with U.S. Rep. Billy Long (R-District 7) in his Springfield office on September 5.
The U.S. House of Representatives overwhelmingly approved the ATM disclosure bill, H.R. 4367, by a vote of 371-0 on July 9. H.R. 4367 and its Senate counterpart, S. 3204, would eliminate the EFTA requirement for a physical ATM fee disclosure notice. Instead, only an electronic disclosure on the screen regarding any fee that may be incurred by the ATM user would be required.
Now that the bill has passed the House, it must be voted on by the Senate to move forward.
ATM Disclosure Bill Introduced in U.S. Senate: Request Support for ATM Disclosure and Small Business Lending
A bill to amend the Electronic Fund Transfer Act (EFTA) and eliminate the physical ATM fee sign requirement is now introduced in the U.S. Senate. U.S. Senator Mike Johanns (R-NE) introduced S. 3204 on May 17. It is similar to H.R. 4367, which was introduced by Missouri U.S. Rep. Blaine Luetkemeyer (R-District 9) and U.S. Rep. David Scott (D-GA) on April 17.