STRATEGIC PARTNERS
January 8, 2002
BIRMINGHAM, Ala. -- Alabama legislators haven't seen the last of a banking bill that would cap ATM fees, according to a report in the Birmingham News.
Rep. William Parker, a Democrat from Birmingham, vowed to reintroduce his proposal to limit the ATM fees banks charge noncustomers to $1 per transaction, or 50 cents each for the surcharge and interchange fee. His bill failed to make it out of the state House Banking Committee on May 21, the last day of this year's regular legislative session.
Parker, who was upset at the bank lobby's opposition to his bill, retaliated by opposing a bill that would have reduced the foreclosure redemption period -- the time owners have to pay off a loan and reclaim their property -- from one year to six months. The Alabama Bankers Association backed the foreclosure bill, which was sponsored by state Rep. Johnny Mack.
Dan Bailey, executive vice president of the Alabama Bankers Association, said bankers are willing to discuss the matter with Parker in hopes of reaching a compromise.
Parker said, "I'm interested in having dialogue with the banks on the ATM issue as well as the foreclosure bill."
