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#1224857 - 07/30/09 04:01 PM Increase in fees - written notice
Tryin-2-Comply Offline
100 Club
Joined: Apr 2003
Posts: 202
Hills of TN
We have some good "converstaions" going on regarding whether or not an increase in an ATM charge requires a written notice mailed or delivered to the customer. Does posting a statement on the ATM stating that an increase in the fee will occur in 21 days meet the requirement. It is delivery (sortof).

a) Change in terms notice--(1) Prior notice required. A financial institution shall mail or deliver a written notice to the consumer, at least 21 days before the effective date, of any change in a term or condition required to be disclosed under Sec. 205.7(b) if the change would result in:
(i) Increased fees for the consumer;
(ii) Increased liability for the consumer;
(iii) Fewer types of available electronic fund transfers; or
(iv) Stricter limitations on the frequency or dollar amount of transfers.

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eBanking / Technology
#1225110 - 07/30/09 06:33 PM Re: Increase in fees - written notice Tryin-2-Comply
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,487
Pulling people out of the ditc...
You charge your customers to use your own ATM?
_________________________
Providing alternative truths since the invention of time

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#1225239 - 07/30/09 07:37 PM Re: Increase in fees - written notice HappyGilmore
Tryin-2-Comply Offline
100 Club
Joined: Apr 2003
Posts: 202
Hills of TN
never mind - it's been one of those days where nothing makes sense.

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