Wyoming Governor to Decide on Cap for ATM Fees
Wyoming Governor Matt Mead must decide whether his state will remain the only one in the nation to impose a cap on ATM fees, the Casper Star-Tribune reports. Mead is deciding whether to sign or veto legislation that would eliminate Wyoming's maximum $2-per-transaction fee.
The legislation reached Mead's desk with overwhelming support among lawmakers, the paper reports. While ATM fees may be broadly unpopular among consumers, supporters of the bill say Wyoming's $2 limit hurts small, family-owned businesses that operate ATMs and are struggling to make money. “By the time I pay for my phone line, and the machines, and the paper, and the fees the credit card companies charge me, I break even, maybe,” one business owner tells the Star-Tribune.
Opponents of the legislation predict ATM fees will surge if the bill becomes law, and are especially worried about what nationally chartered banks will do. Those banks are exempt from Wyoming's ATM limit under federal law, but they have voluntarily complied with it anyway, according to the Wyoming banking commissioner. Critics say that will change if Mead, a Republican, signs Senate File 82 into law.
A spokesman for the governor says Mead remains undecided about the bill.