WASHINGTON-In a letter to the Consumer Financial Protection Bureau, CUNA said the agency has "more than sufficient authority" to help put an end to lawsuits being filed across the country against credit unions over improper ATM disclosures.

Specifically, said CUNA, under the Dodd-Frank Wall Street Reform Act and the Electronic Fund Transfer Act the CFPB can make changes to Regulation E and eliminate the requirement for on-machine ATM fee disclosure notices. Those disclosures are in addition to the fee information that must also be presented on screen.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.