[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3495 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 3495

  To amend the Electronic Fund Transfer Act to limit fees charged by 
 financial institutions for the use of automatic teller machines, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 18, 1998

 Mr. Hinchey introduced the following bill; which was referred to the 
              Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the Electronic Fund Transfer Act to limit fees charged by 
 financial institutions for the use of automatic teller machines, and 
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fair ATM Fees for Consumers Act''.

SEC. 2. DEFINITION.

    Section 903 of the Electronic Fund Transfer Act (15 U.S.C. 1693a) 
is amended--
            (1) in paragraph (10), by striking ``and'' at the end;
            (2) in paragraph (11), by striking the period at the end 
        and inserting a semicolon; and
            (3) by adding at the end the following new paragraphs:
            ``(12) the term `electronic terminal surcharge' means a 
        transaction fee assessed by a financial institution that is the 
        owner or operator of the electronic terminal; and
            ``(13) the term `electronic banking network' means a 
        communications system linking financial institutions through 
        electronic terminals.''.

SEC. 3. CERTAIN FEES PROHIBITED.

    Section 905 of the Electronic Fund Transfer Act (12 U.S.C. 1693c) 
is amended by adding at the end the following new subsection:
    ``(d) Limitation on Fees.--With respect to a transaction conducted 
at an electronic terminal, an electronic terminal surcharge may not be 
assessed against a consumer if the transaction--
            ``(1) does not relate to or affect an account held by the 
        consumer with the financial institution that is the owner or 
        operator of the electronic terminal; and
            ``(2) is conducted through a national or regional 
        electronic banking network.''.
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