Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''ATM Fee Reform Act of 1996''.

SEC. 2. ELECTRONIC FUND TRANSFER FEE DISCLOSURES AT ANY HOST ATM.

Section 904 of the Electronic Fund Transfer Act (15 U.S.C. 1693b)
is amended--
(1) by striking ''(d) In the event'' and inserting ''(d)
Applicability to Service Providers Other Than Certain Financial
Institutions.--
''(1) In general.--In the event''; and
(2) by adding at the end the following new paragraph:
''(2) Fee disclosures at electronic terminals.--
''(A) In general.--The regulations prescribed under
paragraph (1) shall require any host electronic
terminal operator who imposes a fee on any consumer for
providing host transfer services to such consumer to
provide notice in accordance with subparagraph (B) to
the consumer (at the time the service is provided) of--
''(i) the fact that a fee is imposed by
such operator for providing the service; and
''(ii) the amount of any such fee.
''(B) Notice requirements.--The notice required
under subparagraph (A) with respect to any fee
described in such subparagraph shall--
''(i) be posted in a prominent and
conspicuous location on or at the electronic
terminal at which the electronic fund transfer
is initiated by the consumer; and
''(ii) appear on the screen of the
electronic terminal, or on a paper notice
issued from the terminal, after the transaction
is initiated and before the consumer is
irrevocably committed to completing the
transaction.
''(C) Prohibition on fees not properly disclosed
and explicitly assumed by consumer.--No fee may be
imposed by any host electronic terminal operator in
connection with any electronic fund transfer initiated
by a consumer for which a notice is required under
subparagraph (A), unless--
''(i) the consumer receives such notice in
accordance with subparagraph (B); and
''(ii) the consumer elects to continue in
the manner necessary to effect the transaction
after receiving such notice.
''(D) Definitions.--For purposes of this paragraph,
the following definitions shall apply:
''(i) Electronic fund transfer.--The term
'electronic fund transfer' includes a
transaction which involves a balance inquiry
initiated by a consumer in the same manner as
an electronic fund transfer, whether or not the
consumer initiates a transfer of funds in the
course of the transaction.
''(ii) Host electronic terminal operator.--
The term 'host electronic terminal operator'
means any person who--
''(I) operates an electronic
terminal at which consumers initiate
electronic fund transfers; and
''(II) is not the financial
institution which holds the account of
any such consumer from which the
transfer is made.
''(iii) Host transfer services.--The term
'host transfer services' means any electronic
fund transfer made by a host electronic terminal operator in connection
with a transaction initiated by a consumer at an electronic terminal
operated by such operator.''.

SEC. 3. AGENCY REPORTS OF COMPLIANCE WITH REGULATION E.

(a) In General.--Section 918 of the Electronic Fund Transfer Act
(15 U.S.C. 1693p) is amended by adding at the end the following new
subsection:
''(c) Compliance and Trends.--
''(1) Regulation e compliance reports.--Each agency
responsible under section 917 for enforcing 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 description of any discernible trend, in the Nation
as a whole and in each region--
''(A) in the imposition of fees for which notices
are required under section 904(d)(2); and
''(B) in the rate of compliance with regulations
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 following new subsection:
''(d) Disclosure of Possible EFT Fees.--Whenever 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 defined 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 connection with any electronic fund transfer
initiated by a consumer through the use of an electronic terminal
unless--
(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 consummation 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 account
of the consumer;
(C) any national, regional, or local network
utilized to effect the transaction; and
(D) any other party involved in the transfer; 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 requirement
would have on various sizes and types of institutions, if
implemented.
(4) The period of time which would be reasonable for
implementing any such notice requirement.
(5) The extent to which consumers would benefit from any
such notice requirement.
(6) Any other factor the Comptroller General determines to
be appropriate in analyzing the feasibility 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 enactment of this Act, the Comptroller
General shall submit a report to the Congress containing--
(1) the findings and conclusions of the Comptroller 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 notice requirement
described in subsection (a) should be implemented and, if so,
how such requirement should be implemented.
Output:
ATM Fee Reform Act of 1996 - Amends the Electronic Fund Transfer Act to mandate fee disclosures at the time of service by any host electronic terminal operator which imposes a fee for providing host transfer services to a consumer.
Requires each agency responsible for compliance enforcement under the Act to report annually to the Congress on compliance and on regional and national trends in fees imposed by host ATM operators.
Mandates the disclosure to consumers whenever an electronic means of accessing the consumer's account is issued of possible fees for initiating electronic fund transfers.
Requires the Comptroller General to study the feasibility of prohibiting the imposition of an electronic fund transfer fee unless notice has been provided before the consumer is irrevocably committed to completing the transaction.