STRATEGIC PARTNERS
August 26, 2002
MADISON, Wis. -- Three Democratic lawmakers said they plan to introduce legislation next year that essentially would remove the incentive for banks to collect ATM surcharges at their machines, according to a report in the Green Bay Press-Gazette.
According to the report, the bill would impose a state surcharge that equals the amount charged in every ATM fee -- typically $1 or $1.50 -- so that the state rather than banks would receive the revenue.
"Under our proposal, if a bank wants to charge an ATM fee, they won't see one dime of it," said state Rep. Mark Pocan, who proposed the current legislation with fellow Democratic Reps. Christine Sinicki and Frank Boyle. "The state should receive every penny, creating no incentive whatsoever for banks to rip off customers."
Boyle called the plan a "win-win" for state taxpayers who either wouldn't have to pay an ATM fee or else would see the fee revenue offset property taxes.
It's the latest in a number of proposals over the years to curb the use of the fees in Wisconsin. Anti-surcharge bills sponsored by state Rep. John Lehman were defeated in 1999 and again in 2001. A bill sponsored by state Sen. Judy Robson also was defeated in 2000.
State Rep. Phil Montgomery, a Republican, told the Press-Gazette that banks would just find other ways to make up the revenue, such as charging higher interest rates for loans.
Montgomery also called the measure a disguised attack on the environment.
"Instead of having ATM machines conveniently located at almost every street corner, citizens would now have to search endlessly for one, thereby wasting precious natural resources and unduly polluting the environment just so that the state can collect a few more bucks," he said.
