Alabama rep seeks to cap ATM fees

Alabama rep seeks to cap ATM fees
Tags: Bank / Credit Union, Transaction Processing
January 23, 2002

BIRMINGHAM, Ala. -- Alabama state Rep. William Parker, a Democrat, has introduced a bill aimed at capping ATM fees in Alabama at $1 per transaction, according to the Birmingham News.

Parker told the Birmingham News that he is pushing for caps after getting complaints from constituents. "It is outrageous that a person must pay $2 or more for access to their own money," he said. "In this time of economic uncertainty, we must help consumers stretch every dollar."

Parker's bill would cap both surcharges and foreign fees at 50 cents, bringing the combined fee to $1.

Parker said he is basing his bill on similar legislation enacted or proposed in Iowa, Connecticut and Minnesota.