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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who started this subject7/14/2000 3:28:30 PM
From: Karin   of 15132
 
This is some news, that concerns most of us-

Federal Reserve Board Press Release:

For immediate release

The Federal Reserve Board today requested comment on proposed revisions to Regulation E (Electronic Fund Transfers) to implement provisions of the Gramm-Leach-Bliley Act (GLBA) requiring disclosure of automated teller machine (ATM) fees.

Comment is requested by August 18, 2000.

The GLBA amends the Electronic Fund Transfer Act by requiring ATM operators that impose fees on consumers who hold accounts at other institutions to post a prominent and conspicuous notice of that fact on or near the ATM. Before the consumer is committed to completing the transaction, ATM operators must also disclose the existence of and the amount of the fee, either on the screen of the ATM or on a paper notice. Many financial institutions that impose ATM fees already disclose the information required by the GLBA to satisfy existing regulatory and ATM network requirements.
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