National ATM Council executive director Bruce Renard recently shared a Congressional letter to U.S. bank regulators on ATM account blacklisting, seeking to address the issue that keeps ATM companies from getting and keeping the essential bank accounts required to run their businesses.
The letter, signed by nine members of Congress (a bipartisan effort from many in the House Financial Services Committee, said, in part: “The widespread closures and denials of bank accounts to businesses within the independent, nonbank ATM industry present a serious threat to the financial stability not only of consumers who live in the areas served almost exclusively by independent, nonbank ATMs, but also the tens of thousands of retail and service businesses serving these consumers daily.”
Noted Renard: “This is an unprecedented communication that will hopefully start the ball rolling to restore reasonable access to the banking system for U.S. ATM operators.” Stay up-to-date with the issue at www.natmc.org.