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California bankers try to block anti-surcharge measures
SAN FRANCISCO -- A day after voters overwhelmingly banned surcharges on ATMs owned by banks, California banks filed suit in federal court to block the measure from taking effect, according to the Associated Press. San Franciso voters approved the measure by a margin of 62 percent to 38 percent, but the banking industry says the measure is unconstitutional. It received widespread press coverage, as it was the first time in the nation that voters had the opportunity to address the surcharging issue. There were 78,049 votes for the ban and 47,345 against it. The California Bankers Association, representing 280 member banks, joined Wells Fargo and Bank of America in seeking a federal injunction against San Francisco's fee ban, as well as an anti-surcharge ordinance passed by the Santa Monica City Council that is slated to take effect Nov. 12. U.S. District Court Judge Vaughn Walker set a hearing for Nov. 15, adding that it appeared the case revolved around ``the single legal issue'' of how the federal National Bank Act relates to local ordinances.
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