D'Amato to GAO: Probe ATM Surcharges

Complaining that automatic teller machine surcharges "exploit" customers, Senate Banking Committee Chairman Alfonse M. D'Amato Wednesday asked the General Accounting Office to investigate the fees.

"Technological advances are supposed to lower costs and increase convenience, not serve as vehicles to gouge consumers," the New York Republican said in a prepared statement.

In a letter to GAO, Sen. D'Amato asked the agency to determine the number of financial institutions that surcharge, the average fee, and the impact of surcharges on consumer use.

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