The Federal Reserve estimates that
that ATM fees now average $2.66 and in some cases the fees are $5 per
transaction. The best data available suggests that the cost of processing
a transaction is no more than 36 cents today. This amendment would
require the new Consumer Financial Protection Bureau to ensure that fees
charged to consumers at ATMs bear a reasonable relation to the cost of
processing the transaction.
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- May 19, 2010