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President Signs ATM, CFPB Bills

Posted on 12/21/2012

The President has signed into law two bills on the confidentiality of information given to the Consumer Financial Protection Bureau (CFPB) and to reform the fee disclosure requirements on ATMs.

The CFPB bill (H.R. 4014), provides the CFPB with same express rules protecting privileged information as those already applicable to other federal banking regulators.

The ATM placard bill (H.R. 4367), protects banks from frivolous lawsuits by repealing the outdated requirement that a placard must be attached to ATMs stating that a fee may be charged.

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