Dec. 7, 2012
In a "friend of the court" brief, CUNA petitioned a West Coast federal appeals court this week to uphold a lower court decision that set out conditions of immunity for credit unions and IADs from lawsuits over missing ATM fee notices.
According to a CU Times report, the lower court decision established that "ATM operators are not required to establish the identity of the vandal or third party that removes an affixed fee decal in order to establish immunity from civil liability under the safe harbor defense."
The brief also argued in favor of the lower court's holding that "a standard of reasonableness" should be applied in assessing good faith efforts by the ATM operator to comply with Reg E of the Electronic Fund Transfer Act.
Such immunity would offer relief to small CUs and IADs with limited staff, for whom maintaining a fee sticker monitoring program presents an undue burden, the article said.
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