CFPB Issues Ruling on Disclosure of ATM Fees

CFPB Issues Ruling on Disclosure of ATM Fees

March 29, 2013         Written By John H. Oldshue

The Consumer Financial Protection Bureau has issued a new rule regarding the disclosure of ATM fees.

ATM operators will be required to provide consumers with either an on-screen disclosure or a printout of applicable fees for using an ATM machine. These disclosures must be given before the user is obligated to pay the fee.

Prior to December 2012, a provision in the Electronic Fund Transfer Act made it a requirement that some type of signage needed to be placed not only on the screen, but also on or near an ATM machine to alert the consumer that they may be charged a fee for using the ATM.

If the sign was not present, a consumer could bring action against the ATM operator and seek damages from $100 to $1,000. This provision spurred countless lawsuits from consumers who found ATMs without this signage. Some cases involved people removing the signs, using the machine and then suing the ATM operator.

In December, President Obama signed a bill that eliminated the requirement to post these signs both on the ATM screen and on or near the machine.

The new rule by the CFPB now clarifies that an on-screen or paper notice of the fees must be given to the ATM consumer.

The information contained within this article was accurate as of March 29, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About John H. Oldshue

John Oldshue is the creator of He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for
View all posts by John H. Oldshue
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : 1.5% cash back on all purchases; $150 bonus after spending $500 in first 3 months
Featured No Annual Fee Card
Top Features : 2% cash back on purchases: 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : Perfect credit not required; Reports to major credit bureaus