American Banker Interviews Manatt Partner on Overturned ATM Placard Law

New Law Targets Nuisance Lawsuits Over ATM Fee Notices
– American Banker

American Banker interviewed Manatt's June DeHart, a partner in the firm's Federal Government Affairs and Public Policy Practice, for insight into a new law that overturns a requirement that automated teller machines display physical signs notifying users of potential fees.

As reported by American Banker, the mandatory placard law was widely regarded as redundant, given that many modern ATMs allow users to accept or refuse fees via on-screen notifications. It has been estimated that as many as 2,000 lawsuits against ATM operators were filed for failing to display proper placards.

The new law is seen as a victory for banks, credit unions, convenience stores, casinos and independent ATM operators, particularly due to the potentially reduced legal costs.

"The case for the bill was straightforward, streamlining a duplicate, unnecessary requirement while protecting notice and access for the consumer," said DeHart.

"It's going to close the door on these spurious lawsuits."

Read the article here



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