STRATEGIC PARTNERS
January 16, 2002
BIRMINGHAM, Ala. -- Alabama's House Rules Committee will today begin debating a proposal to slash fees banks charge on ATM transactions, according to a report in the Birmingham News.
State Rep. William Parker, a Democrat, has introduced a resolution that would require the Alabama Banking Department to enforce a plan that would cap fees on ATM transactions at 50 cents each for the surcharge and interchange fee, or a total of $1.
Dan Bailey, executive vice president of the Alabama Bankers Association, called Parker's proposal unnecessary. The House Banking Committee has already considered -- and failed to pass -- a bill Parker introduced in early April that would limit ATM fees, as well as a proposed constitutional amendment sponsored by Parker that would allow state residents to vote on capping fees.
Parker's proposed resolution would sidestep the House Banking Committee by allowing the Rules Committee to take it forward to the full House for a vote.
"I don't think that a 15-member Banking Committee should speak on behalf of all Alabamians in deciding whether people should have the right to vote on limiting ATM fees," Parker told the Birmingham News.
Bailey said consumers can avoid ATM fees by using only their own bank's machines, writing checks and using debit and credit cards. "Besides, paying $2 to get cash delivered to you is a small price to pay for the convenience ATMs provide," he said.
