STRATEGIC PARTNERS
September 15, 1999
DES MOINES, Iowa -- Iowa Superintendent of Banking Michael K. Guttau and state Attorney General Tom Miller have petitioned the full U.S. Court of Appeals for the Eighth Circuit to reconsider a recent decision that struck down a portion of Iowa's EFT Act. In a 2-1 decision, a three-member panel of that court sided with Bank One, which had sued for the right to install ATMs at retail locations in Iowa. The panel issued a permanent injunction that prevents Iowa from enforcing a statute banning the deployment of ATMs owned by out-of-state banks. The court also struck down a state ban on advertising at off-site ATMs. In a written statement, Guttau and Miller said the decision "changes the entire landscape of banking from one of competitive equality to one of competitive inequality, favoring national banks at the expense of state banks and consumers."
