In the American economy, firms that do not provide the services consumers demand are replaced by those that do. What has made this county's economy so prosperous is its refusal to interfere with competition and innovation. Competition is not something the banking industry lacks, given its 200,000 ATMs and 10,000 financial institutions. That free and open competition led to the invention of the ATM in the first place. Another important fact to remember is that getting access to your money without a fee is still very easy.
Customers can write a check, use a debit card or credit card or simply visit their own bank's ATMs.
Those who value convenience less still have other options for getting money, while those who would prefer to pay for this convenience can do so. If Senator D'Amato gets his wish, consumers will lose not only the fees that he despises so much but also the large network of ATMs on which consumers have come to rely.