“On the Machine” ATM Notice eliminated from Regulation E

As we anticipated in our January 1, 2013 blog, Regulation E has been officially revised to eliminate the “on the BSA Training and Banking Regulations Compliance Consulting diane11 - "On the Machine" ATM Notice eliminated from Regulation Emachine” fee notice requirement.  This notice was required to tell users of an ATM that a fee may or will be charged for its use.  In December, the Electronic Fund Transfer Act (EFTA) was revised and now the regulation has been revised as well.

This change only removes the “on or at” the machine requirement.  The on-screen or paper disclosure requirement remains.

While this is good news, you need to be sure to check your state law as it may still require an “on the machine” notice.

Published
2013/04/05
Diane Dean

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