A vote on legislation requiring disclosure of automatic teller machine surcharges is expected next week from House Banking's financial institutions and consumer credit subcommittee.
Rep. Marge Roukema, who chairs the subcommittee and sponsored the bill, initially scheduled the vote for Thursday, but backed off to give the industry more time to weigh in. A specific date next week has not been set.
Senate Banking is expected to a hold a hearing Thursday on legislation to completely ban the surcharges.
Banks and industry trade groups are lining up against the legislation. The bill would force banks to post any charges levied against noncustomers on ATMs and on screen displays.
The bill, co-sponsored by Rep. Charles Schumer, D-N.Y., also would require the Federal Reserve to track the prevalence and amount of the fees.
Columbus, Ohio-based Banc One Corp. lobbyist Anne L. Hall described the legislation as "unnecessary and burdensome" in July 5 letters asking the company's state lawmakers to oppose the bill.
The Fed already has sufficient power to require new disclosures and study surcharges, she said.
The American Bankers Association, Independent Bankers Association of America, Consumer Bankers Association are also opposed to the bill.
Joe Belew, CBA president, said his group is worried the requirements could be applied to other types of electronic commerce.
