S.Amdt. 2202

SA 2202. Mr. SANDERS submitted an amendment intended to be proposed
to amendment SA 2151 proposed by Mr. McConnell (for Mr. Crapo (for
himself, Mr. Donnelly, Ms. Heitkamp, Mr. Tester, and Mr. Warner)) to
the bill S. 2155, to promote economic growth, provide tailored
regulatory relief, and enhance consumer protections, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. 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--

[[Page S1640]]

(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--
``(i) 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 $2.00; and
``(ii) any fee charged by a financial institution for a
transaction conducted at an automated teller machine to bear
a reasonable relation to the cost of processing the
transaction by the financial institution, and in no case
shall any such fee exceed $2.00.''.
(b) Effective Date.--The amendments made by this section
shall take effect on the date that is 60 days after the date
of enactment of this Act.
(c) Rulemaking.--Not later than 60 days after the date of
enactment of this Act, the Bureau of Consumer Financial
Protection shall promulgate regulations to carry out this
section and the amendments made by this section.
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