The National ATM Council applauded the OCC for adopting a new federal rule aimed at ensuring the provision of fair access to banking services by large national banks and federal savings associations for independent ATM companies.
The rule, in part, says: “As a general matter, the OCC does not direct banks to open, close, or maintain individual accounts, nor does the agency encourage banks to engage in the termination of entire categories of customer accounts without regard to the risks presented by an individual customer or a bank’s ability to manage the risk.”
NAC Executive Director Bruce Renard added: “We are hopeful this new OCC rule will bring an end to the current nationwide denial to independent ATM providers of fair and reasonable access to the very same business banking services and accounts otherwise enjoyed by all lawful businesses in the U.S.” The new rule is scheduled to go into effect on April 1.