News

Atlas ATM settles Mass. fee placard suit

August 16, 2013

Atlas ATM Corp., an IAD serving merchants in the Commonwealth of Massachusetts, has agreed to pay $50,000 to settle a case over missing ATM fee placards. Though President Obama signed legislation in December that abolished Reg E placard requirements, Massachusetts still has a law on its books mandating them.

The Massachusetts Division of Banks and the office of Massachusetts Attorney General Martha Coakley have been conducting a systemwide investigation of missing fee placards, the Boston Globe said in a report.

"Companies should be held accountable for providing appropriate fee disclosures to consumers," Coakley said in a statement. "Consumers will now be notified by this ATM provider before they use their debit and credit cards."

In May, Merrimak ATM settled similar charges, also for $50,000. 

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