ATM Sticker Rule

CONSUMER FINANCIAL PROTECTION BUREAU
JUSTIFICATION FOR NO MATERIAL NON-SUBSTANTIVE CHANGE
ELECTRONIC FUND TRANSFERS (REGULATION E) 12 CFR 1005
(OMB CONTROL NUMBER: 3170-0014)

Overview
The Bureau of Consumer Financial Protection (Bureau) is amending Regulation E (Electronic Fund
Transfers), which implements the Electronic Fund Transfer Act (EFTA), and the official interpretation to
the regulation in order to eliminate a requirement that a fee notice be posted on or at automated teller
machines, leaving in place the requirement for a specific fee disclosure to appear on the screen of that
machine or on a paper issued from the machine. The Bureau is issuing this final rule to conform
Regulation E to an amendment to the EFTA that was passed in December 2012, which eliminated the
statutory authority for the posted fee notice.
The Bureau’s analysis considers the burden associated with the eliminated requirement to be minimal,
since ATM operator personnel were required to service the machines regularly and could place or
replace the posted notices at that time, when needed. Therefore, the Bureau is not able to quantify the
Paperwork Reduction Act burden reduction associated with the removal of this requirement.
Pursuant to EFTA, the Bureau submits this change request with the Office of Management and Budget in
order to amend the docket to remove the disclosure requirement subject to this request. No new or
revised disclosure requirements are being imposed.



Rulemaking: Direct Final Rule – RIN 3170-AA36
o Regulation: 12 CFR 1005.16, Disclosures at automated teller machines.
o Disclosure requirement in § 1005.16(c)(1) removed (see below).



Burden
o Current Annual Burden Hours:
 Change:
 New Annual Burden Hours:
o

Current Annual Cost Burden:
 Change:
 New Annual Cost Burden:

4,016,587
- 04,016,587
$0
$0
$0

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PART 1005 – ELECTRONIC FUND TRANSFERS (REGULATION E)
Current Regulatory Text
§ 1005.16 Disclosures at automated
teller machines.
(a) Definition. ‘‘Automated teller machine
operator’’ means any person that
operates an automated teller machine
at which a consumer initiates an electronic
fund transfer or a balance inquiry
and that does not hold the account
to or from which the transfer is
made, or about which an inquiry is
made.
(b) General. An automated teller machine
operator that imposes a fee on a
consumer for initiating an electronic
fund transfer or a balance inquiry
shall:
(1) Provide notice that a fee will be
imposed for providing electronic fund
transfer services or a balance inquiry;
and
(2) Disclose the amount of the fee.
(c) Notice requirement. To meet the requirements
of paragraph (b) of this section,
an automated teller machine operator
must comply with the following:
(1) On the machine. Post in a prominent
and conspicuous location on or at
the automated teller machine a notice
that:
(i) A fee will be imposed for providing
electronic fund transfer services or for

Regulatory New Text
§ 1005.16 Disclosures at automated teller
machines.
(a) * * *

(b) General. An automated teller machine
operator that imposes a fee on a consumer for
initiating an electronic fund transfer or a balance
inquiry must provide a notice that a fee will be
imposed for providing electronic fund transfer
services or a balance inquiry that discloses the
amount of the fee.

(c) Notice requirement. An automated teller
machine operator must provide the notice
required by paragraph (b) of this section either by
showing it on the screen of the automated teller
machine or by providing it on paper, before the
consumer is committed to paying a fee.
* * * * *

Removed

a balance inquiry; or
(ii) A fee may be imposed for providing
electronic fund transfer services
or for a balance inquiry, but the notice
in this paragraph (c)(1)(ii) may be substituted
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PART 1005 – ELECTRONIC FUND TRANSFERS (REGULATION E)
Current Regulatory Text

Regulatory New Text

for the notice in paragraph
(c)(1)(i) of this section only if there are
circumstances under which a fee will
not be imposed for such services; and
(2) Screen or paper notice. Provide the
notice required by paragraphs (b)(1)
and (2) of this section either by showing
it on the screen of the automated
teller machine or by providing it on
paper, before the consumer is committed
to paying a fee.
(d) Imposition of fee. An automated
teller machine operator may impose a
fee on a consumer for initiating an
electronic fund transfer or a balance
inquiry only if
(1) The consumer is provided the notices
required under paragraph (c) of
this section, and
(2) The consumer elects to continue
the transaction or inquiry after receiving
such notices.

(d) Imposition of fee. An automated teller
machine operator may impose a fee on a
consumer for initiating an electronic fund transfer
or a balance inquiry only if:
(1) The consumer is provided the notice required
under paragraph (c) of this section, and
(2) The consumer elects to continue the
transaction or inquiry after receiving such notice.
3. In Supplement I to Part 1005, remove
Section 1005.16.

Note: The subject final rule published in the Federal Register on Tuesday, March 26, 2013 at 78 FR 18221
(http://www.gpo.gov/fdsys/pkg/FR-2013-03-26/html/2013-06861.htm) .

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