In regards to: Amendment 3812 to Senate Bill 3217, offered by Senator Harkin.
Dear Mr. Palubiak:
Thank you for writing me about Senator Harkin’s ATM fee amendment to the financial reform bill.
As you know, Senator Tom Harkin (D-IA) introduced Senate Amendment 3812 on May 4, 2010. This amendment would have added a provision to the financial reform bill to limit ATM fees at $.50 per transaction. Supporters of this idea argue that ATM fees are excessive and a burden to customers. Opponents of the amendment arhue that these fees are necssary to pay for the cost of the machine and its maintenance. Senate Amendment 3812 did not receive a vote by the Senate and therefore was not included in the Wall Street Reform and Consumer Protection Act.
Again, thank you for contacting me. I appreciate having your input on this proposal.
United States Senator