• Iowa ATM appeal denied

0 Comments
The Eighth Circuit U.S. Court of Appeals in St. Louis rejected an appeal by the state of Iowa regarding its decision that Iowa can not bar ATM deployments by banks with no branches in the state. The case involved machines deployed in Sears stores as part of Chicago-based Bank One's Rapid Cash program. In their request for an appeal, Iowa Superintendent of Banking Michael K. Guttau and state Attorney General Tom Miller wrote that the court's decision "changes the entire landscape of banking from one of competitive equality to one of competitive inequality, favoring national banks at the expense of state banks and consumers." However, the court found that the federal government has regulatory authority over nationally-chartered banks. While the ruling does not directly address Iowa's surcharge ban, it is significant because of its language favoring the feds. California banks, including Bank of America and Wells Fargo, are using arguments similar to those in the Iowa case in their lawsuit against Santa Monica and San Francisco. Both cities recently enacted bans on surcharges at bank-owned ATMs.
Reader Comments

Add a Comment

We welcome your thoughtful comments. All comments will display your real name.

Want to participate in the discussion?

Or log in for complete access.

  • Clear
  • Post
Be the first to post a comment for this story.
Products & Services

ATMequipment.com at ATMIA 2012

http://global.networldalliance.com/new/images/products/4967.png

4967/ATMequipment-com-at-ATMIA-2012

Video: Consumer Research Webinar - 58 minutes

http://global.networldalliance.com/new/images/products/4049.png

4049/Video-Consumer-Research-Webinar-58-minutes

Financial Institution Programs

http://global.networldalliance.com/new/images/products/4655.png

4655/Financial-Institution-Programs

SmartCash® Vault

http://global.networldalliance.com/new/images/products/5065.png

5065/SmartCash-Vault

Az-CRIPTO

http://global.networldalliance.com/new/images/products/4573.png

4573/Az-CRIPTO

A98 ATM Key Management System – A98-D - Direct Module with …

http://global.networldalliance.com/new/images/products/4405.png

4405/A98-ATM-Key-Management-System-A98-D-Direct-Module-with-Multivendor-Middleware-Support

KAL Advanced Functionality ATM Solutions

http://global.networldalliance.com/new/images/products/KAL_Logo_SF100.gif

1226/KAL-Advanced-Functionality-ATM-Solutions

Contour Direct-Connect Cellular Service

http://global.networldalliance.com/new/images/products/productlogo.gif

1130/Contour-Direct-Connect-Cellular-Service

Multi-Brand ATM Parts

http://global.networldalliance.com/new/images/products/Closeout_Parts_100.gif

1171/Multi-Brand-ATM-Parts

ATM Locks - Sales and Service

http://global.networldalliance.com/new/images/products/ATMSolutions_lock.gif

549/ATM-Locks-Sales-and-Service

OptConnect
Customer Experience Technology Buyer
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.