Group Lobbies Hard Against ATM Fee Curbs

Raising the specter of widespread shutdowns of ATMs, a group of major banks, retailers and ATM technology companies pressed senators to oppose an effort to outlaw double-charging on teller machine transactions. In a letter to all senators, the group maintained that the ban proposed by Banking Committee Chairman Alfonse M. D’Amato (R-N.Y.) is “anti-competitive” and a form of government price controls. Some consumer groups oppose ATM surcharges, which take effect when customers use an automated teller machine operated by a bank other than their own. Deirdre Cummings, consumer program director for Public Interest Research Group in Massachusetts, described the bankers’ letter as “scare tactics,” adding that Connecticut and Iowa have not seen shutdowns of ATMs after the states banned surcharges. The 54 companies signing the letter to senators included major banks, such as BankAmerica Corp., and the National Retail Federation.