any electronic fund transfer made by a
host electronic terminal operator in connec-
tion with a transaction initiated by a
consumer at an electronic terminal oper-
ated by such operator.’’.
SEC. 3. AGENCY REPORTS OF COMPLIANCE WITH REGULA-
TION E.
(a) IN GENERAL.—Section 918 of the Electronic
Fund Transfer Act (15 U.S.C. 1693p) is amended by add-
ing at the end the following new subsection:
‘‘(c) COMPLIANCE AND TRENDS.—
‘‘(1) REGULATION E COMPLIANCE REPORTS.—
Each agency responsible under section 917 for en-
forcing compliance with the requirements imposed
under this title shall submit an annual report to the
Congress on the degree to which entities which are
subject to the jurisdiction of such agency under this
title are in compliance with regulations prescribed by
the Board under section 904(d).
‘‘(2) TRENDS IN FEES IMPOSED BY HOST ATM
OPERATORS.—Each report submitted by an agency
pursuant to paragraph (1) shall include a descrip-
tion of any discernible trend, in the Nation as a
whole and in each region—
‘‘(A) in the imposition of fees for which no-
tices are required under section 904(d)(2); and
‘‘(B) in the rate of compliance with regula-
tions prescribed pursuant to such section.
‘‘(3) SEPARATE SUBMISSION NOT REQUIRED.—
The information required to be submitted to the
Congress under this subsection may be included in
any other annual report submitted to the Congress
by such agency.’’.
SEC. 4. DISCLOSURE OF POSSIBLE FEES TO CONSUMERS
WHEN ATM CARD IS ISSUED.
Section 911 of the Electronic Fund Transfer Act (15
U.S.C. 1693i) is amended by adding at the end the follow-
ing new subsection:
‘‘(d) DISCLOSURE OF POSSIBLE EFT FEES.—When-
ever a card, code, or other means of access to a consumer’s
account is issued for the purpose of initiating electronic
fund transfers from such account, the person issuing the
card, code, or other means of access shall provide a written
notice to the accountholder that a fee may be imposed
by—
‘‘(1) a host electronic terminal operator (as de-
fined in section 904(d)(2)(D)(ii)) if the consumer
initiates a transfer from an electronic terminal which
is not operated by the person issuing the card or
other means of access; and
‘‘(2) any national, regional, or local network
utilized to effect the transaction.’’.
SEC. 5. FEASIBILITY STUDY.
(a) IN GENERAL.—The Comptroller General of the
United States shall conduct a study of the feasibility of
prohibiting the imposition of any fee by any person in con-
nection with any electronic fund transfer initiated by a
consumer through the use of an electronic terminal un-
less—
(1) a notice is provided to the consumer before
the consumer is irrevocably committed to completing
the transaction, which clearly states the amount of
any fee which will be imposed upon the consumma-
tion of the transaction by—
(A) any host electronic terminal operator
(as defined in section 904(d)(2)(D)(ii) of the
Electronic Fund Transfer Act) involved in the
transaction;
(B) the financial institution holding the ac-
count of the consumer;
(C) any national, regional, or local network
utilized to effect the transaction; and
(D) any other party involved in the trans-
fer; and
(2) the consumer elects to consummate the
transaction after receiving the notice described in
paragraph (1).
(b) FACTORS TO BE CONSIDERED.—In conducting
the study required under subsection (a) with regard to the
notice requirement described in such subsection, the
Comptroller General shall consider the following factors:
(1) The availability of appropriate technology.
(2) Implementation and operating costs.
(3) The competitive impact any such notice re-
quirement would have on various sizes and types of
institutions, if implemented.
(4) The period of time which would be reason-
able for implementing any such notice requirement.
(5) The extent to which consumers would bene-
fit from any such notice requirement.
(6) Any other factor the Comptroller General
determines to be appropriate in analyzing the fea-
sibility of imposing any such notice requirement.
(c) REPORT TO THE CONGRESS.—Before the end of
the 6-month period beginning on the date of the enact-
ment of this Act, the Comptroller General shall submit
a report to the Congress containing—
(1) the findings and conclusions of the Comp-
troller General in connection with the study required
under subsection (a); and
(2) the recommendation of the Comptroller
General with regard to the question of whether a no-
tice requirement described in subsection (a) should
be implemented and, if so, how such requirement
should be implemented.
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