News

New Jersey considers banning surcharge for account balance inquiry at ATM

An operator in violation of the measure would be liable for a civil penalty of up to $1,000 for each day of noncompliance.

December 26, 2014

New Jersey Assemblyman Vincent Prieto has introduced a bill that would prohibit the operator of an ATM from charging a fee to a consumer for using the ATM to carry out an account balance inquiry unless a notice is prominently displayed on the ATM screen.

According to a Stateside Alert, the on-screen notice must disclose the amount of the fee and give the consumer the option to decline the fee and exit without charge. An operator in violation of the measure would be liable for a civil penalty of up to $1,000 for each day of noncompliance.

The bill was referred to Assembly Financial Institutions and Insurance Committee on Jan. 16, 2014; a hearing was held Oct. 2, 2014. The measure was amended and passed by the assembly, and then was sent to the Senate Dec. 18, 2014.

Prieto introduced similar legislation during the 2013 session, however it was not taken up in the Assembly Financial Institutions and Insurance Committee before the end of the session, the alert said.

Democrats control both chambers of the legislature in New Jersey, however Governor Chris Christie is a Republican.