H.R.3727 - ATM Fee Reform Act of 1996104th Congress (1995-1996)
Summary: H.R.3727 — 104th Congress (1995-1996)
Introduced in House (06/26/1996)
ATM Fee Reform Act of 1996 - 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.
Requires each agency responsible for compliance enforcement under the Act to report annually to the Congress on compliance and on regional and national trends in fees imposed by host ATM operators.
Mandates the disclosure to consumers whenever an electronic means of accessing the consumer's account is issued of possible fees for initiating electronic fund transfers.
Requires the Comptroller General to study the feasibility of prohibiting the imposition of an electronic fund transfer fee unless notice has been provided before the consumer is irrevocably committed to completing the transaction.