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| Written by Dan Schline, NCCUL SVP of Assocation Services, the letter seeks support of HR 4367. |
The NC Credit Union League sent a letter to the NC Congressional delegation on May 2 asking for their support of a bill that would eliminate an outdated ATM disclosure. Authored by Dan Schline, the League's SVP of Association Services, the letter calls attention to the troublesome impact of an unnecessary physical disclosure on credit union ATMs.
"Recently, several credit unions and banks have been sued as a result of the physical disclosure having been removed by vandals," Schline wrote. "These class action lawsuits are well documented, costly, and on the rise in North Carolina and nationwide."
ATM operators are currently required to provide a physical and electronic disclosure, along with the ability of a member or customer to opt-out of the transaction if they do not wish to be charged a fee. The letter urges members of Congress to co-sponsor or support HR 4367, which would eliminate the now outdated physical disclosure.