The Nebraska state legislature has eliminated a state requirement that ATMs in that state notify consumers about transaction fees physically, on the machine itself, as well as on the screen before the transaction goes forward.
The Nebraska Credit Union League supported the legislation which comes after Congress passed similar federal legislation.
During a Jan. 22 public hearing before the Banking, Commerce, and Insurance Committee, Nebraska Credit Union League Director of Governmental Affairs Brandon Luetkenhaus testified, “Credit unions appreciate and support sound regulations that protect consumers and promote fair play in the market place. However, sometimes well-intended regulation can be unnecessary and burdensome and we believe that's the case with these physical disclosures.”
Laws and regulations requiring the physical notices have been used to file lawsuits against credit unions and banks across the country.
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