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Australian commission pushes for more ATM fee disclosure

September 6, 2005

Sydney Morning Herald: An Australian Securities and Investments Commission review of 182 banks, credit unions and building societies that charge fees found fee disclosure has improved over the past few years.

But there are still areas where further work needs to be done, the review concluded. ASIC said there had been little or no progress toward real-time disclosure of ATM fees since its guide to fee disclosure was issued in June 2002. In particular, customers are not being informed that they could be charged extra for using a foreign ATM.

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