EFT Disclosures at ATMs
By Deb Jost
Are your ATMs in compliance?
The FDIC recently published FIL-66-2009 as a reminder to ensure that banks have posted a notice on or at their ATMs and on the screen (or paper before the consumer is committed to paying a fee) stating that a fee will be imposed for initiating an electronic funds transfer or balance inquiry.
This reminder was prompted by the fact that the FDIC has become aware of a number of banks that may not be fully complying with the notice requirements in Section 205.16 of Regulation E.