News

Miss. governor vetoes ATM fee regulation bill

May 5, 2004

JACKSON, Miss. - Gov. Haley Barbour has vetoed a bill that would have standardized user fees for ATMs.

"Protecting the consumer from exorbitant fees is a worthy goal. However, the combination of existing federal and state laws pre-empts the application of this bill to a large portion of the ATM industry," Barbour wrote in his veto message.

According to an Associated Press report, Barbour said current federal law doesn't prohibit charging ATM fees or impose a cap on fees that national banks may charge. Mississippi law gives state banks the same "powers, privileges, and immunities" as national banks operating in the state.

So, Barbour said, the proposed bill would create an "uneven playing field" in the state because only nonbank ATMs would be subject to the restrictions.