Physical Placard Requirement on ATMs
Bipartisan legislation is currently pending in Washington, S. 3204, (H.R. 4367 passed
unanimously on July 9th) regarding the removal of the requirement of the physical
placard notice on ATMs from the Electronic Fund Transfer Act (EFT Act).
The EFT Act requires ATM operators to provide two separate notices to consumers
whenever a surcharge fee is charged for the use of an ATM. One of those notices
must take the form of a physical placard. If this placard or notice is not displayed,
the EFT Act prescribes certain statutory damages in the event of a class action
lawsuit. One consequence of this penalty is that it has encouraged a host of lawsuits
where the physical notice has been vandalized or removed. To date, there are over
Contact your Senator today to encourage them to co-sponsor this pending legislation.
Attached is a sample message you can use.
To locate your Senator, visit:
Below is a sample message you can use.
Dear Senator X
I write to you today to urge you to co-sponsor S. 3204 bipartisan legislation to
eliminate an outdated and unnecessary requirement that ATM owners and operators
provide consumers a physical placard on the ATM indicating a fee may be assessed,
a requirement of the Electronic Fund Transfer Act (EFT Act).
ATMs provide consumers with an on-screen fee disclosure notice and require consumers
to accept the fees before completing the transaction. Because of the physical placard
requirement, the ATM industry has been suffering from a number of lawsuits (over
550 to date) by attorneys seeking sizable class-action lawsuits or settlements,
due to some individuals removing the physical placard from the ATM.
Without this legislation, ATMs may be less available as owners and operators weigh
the cost of fighting these lawsuits against the benefits of providing ATMs.
By co-sponsoring this legislation, you will be saving millions of dollars in frivolous
Thank you for your support.