Three state representatives said they plan to introduce legislation aimed at discouraging ATM surcharges by slapping a 100% tax on all ATM fees. The legislators said they hope their strategy helps to eliminate AM surcharges, because state bans on the assessments have all been struck down.
"Under our proposal, if a bank wants to charge an ATM fee, they won't see one dime of it," said Rep. Mark Pocan, one of the sponsors of the bill. "The state would receive every penny, creating no incentive whatsoever for banks to rip off consumers."
Mollie Hertel, a spokesperson for Rep. Frank Boyle, another co-sponsor, told The Credit Union Journal the lawmakers plan to introduce the bill in January when the state legislature session commences.
Contact Ed Roberts at eroberts cujournal.com.