S.Amdt. 3812

SA 3812. Mr. HARKIN (for himself, Mr. Schumer, and Mr. Sanders)
submitted an amendment intended to be proposed to amendment SA 3739
proposed by Mr. Reid (for Mr. Dodd (for himself and Mrs. Lincoln)) to
the bill S. 3217, to promote the financial stability of the United
States by improving accountability and transparency in the financial
system, to end ``too big to fail,'' to protect the American taxpayer by
ending bailouts, to protect consumers from abusive financial services
practices, and for other purposes; which was ordered to lie on the
table; as follows:

At the end of subtitle G of title X, add the following:

SEC. 1077. FAIR ATM FEES.

(a) Amendment to the Electronic Fund Transfer Act.--Section
904(d)(3) of the Electronic Fund Transfer Act (15 U.S.C.
1693b(d)(3)) is amended--
(1) in subparagraph (A), by striking the subparagraph
heading and inserting the following:
``(A) Fee disclosure.--'' ;
(2) by redesignating subparagraph (D) as subparagraph (E);
and
(3) by inserting after subparagraph (C) the following:
``(D) Regulation of fees.--The regulations prescribed under
paragraph (1) shall require any fee charged by an automated
teller machine operator for a transaction conducted at that
automated teller machine to bear a reasonable relation to the
cost of processing the transaction, and in no case shall any
such fee exceed $0.50.''.
(b) Effective Date.--The amendments made by this section
shall become effective not later than 6 months after the date
of enactment of this Act.
(c) Rulemaking.--The Bureau shall issue such rules as may
be necessary to carry out this section, not later than 6
months after the date of enactment of this Act.
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