Banks make a tidy profit off ATM fees, ranging from $1 to $7, but a proposed amendment to the financial reform bill would cap fees at 50 cents per transaction. Instead of helping consumers, it may end up hurting them if banks end up closing less-profitable ATMs, limiting access to cash.

Continue reading Senators Push for a Cap of 50 Cents on ATM Fees

Senators Push for a Cap of 50 Cents on ATM Fees originally appeared on DailyFinance on Thu, 06 May 2010 14:45:00.

Filed Under: JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co