ATM OPERATORS BEWARE: Class Actions for Failing to Post Required Notices
Plaintiffs' attorneys are targeting "ATM operators" with class-action lawsuits alleging the failure to comply with notice requirements imposed by the Electronic Fund Transfer Act ("EFTA"). The EFTA requires ATM operators to disclose fees for electronic fund transfers on the exterior of an ATM and on the ATM screen during a transaction. The failure to provide the required notices may subject an ATM operator to liability for statutory damages, actual damages, attorneys' fees and costs. Consequently, ATM operators should take immediate steps to minimize the potential liability associated with these claims.