PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · Nov 18, 1999
ATM Surcharge Elimination and Consumer Empowerment Act - Amends the Bank Holding Company Act of 1956 to permit a bank holding company to expand its financial activities if all its subsidiary depository institutions have a demonstrable record of performance in the provision of low-cost lifeline bank accounts.Amends the Revised Statutes of the United States to declare that a national bank may control or hold an interest in a financial subsidiary only if such bank and each of its insured depository institution affiliates has a demonstrable record of performance in the provision of low-cost lifeline bank accounts.Declares that the termination of reporting requirements under the Federal Reports Elimination and Sunset Act of 1995 shall not apply to mandatory reports to Congress by the Board of Governors of the Federal Reserve System under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) on the annual survey of certain retail banking services provided by insured depository institutions and possible fees imposed by such institutions (thus continuing the mandate for such reports). Provides a new termination date for such reports.Amends FIRREA to extend such annual survey to include credit unions.Amends the Electronic Fund Transfer Act to prohibit the imposition of electronic fund transfer fees upon a consumer by the operator of an electronic terminal (automatic teller machine, or ATM) if: (1) that operator is not the financial institution holding the consumer's account; and (2) the fund transfer utilizes a national or regional communication network to effect the transaction with the financial institution holding the consumer's account.
People & committees
Rep. Waters, Maxine [D-CA-35] · D–CA
Legislative record
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Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Banking and Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 20, 2025. Consult Congress.gov for the current record.
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Analyze H.R.3503 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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