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90_SR0013
LRB9001177KBkb
1 SENATE RESOLUTION
2 WHEREAS, The use of automatic teller machines, commonly
3 known as ATMs, by the people of the State of Illinois has
4 grown dramatically throughout recent years, and for many
5 consumers, the use of ATMs has become the principal means of
6 conducting personal financial transactions; and
7 WHEREAS, The General Assembly has recognized the growing
8 importance of ATMs by enacting the Electronic Fund Transfer
9 Act and the Automatic Teller Machine Security Act, laws which
10 govern the methods and procedures of delivering financial
11 services through ATMs and establishing guidelines for the
12 safety standards for consumer use of ATMs; and
13 WHEREAS, An increasing concern of consumers is the cost
14 of using ATMs subject to per transaction fees and the cost of
15 the use of ATMs which are owned by financial institutions
16 other than those owned by the consumers' financial
17 institution; and
18 WHEREAS, The fees charged by financial institutions to
19 consumers vary from each financial institution, costs which
20 can be exceedingly exorbitant for consumers who must use ATMs
21 due to travel, daily commutes to work, and the increasingly
22 reduced availability of personal service by tellers at
23 financial institutions; and
24 WHEREAS, Many financial institutions do not disclose to
25 non-customer consumers who utilize ATMs the cost of using the
26 ATMs to the non-customer consumer at the time of the
27 transaction, and thereby subject non-customer consumers to
28 costs which are not known to the non-customer consumer until
29 notified by their own financial institution; and
30 WHEREAS, The General Assembly recognizes the importance
31 of the financial services industry in this State and the need
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1 of consumers to have financial services readily available at
2 commercially reasonable costs; therefore be it
3 RESOLVED, BY THE SENATE OF THE NINETIETH GENERAL ASSEMBLY
4 OF THE STATE OF ILLINOIS, that there is created the Special
5 Committee on Automatic Teller Machine Fees which will study
6 and report to the Senate on the cost of fees imposed by
7 financial institutions upon consumers, recommend to the
8 Senate if there is a need for limiting consumer fees for ATM
9 use, and report to the Senate concerning the effect of fee
10 limitations upon the commercial viability of financial
11 institutions that operate ATMs in Illinois; and be it further
12 RESOLVED, That the membership of the Special Committee on
13 Automatic Teller Machine Fees be composed of 3 members of the
14 Senate appointed by the Senate President; 3 members of the
15 Senate appointed by the Senate Minority Leader; 2 public
16 members representing consumer groups, one each appointed by
17 the Senate President and Senate Minority Leader; and 2 public
18 members representing the financial industry of the State, one
19 each appointed by the Senate President and the Senate
20 Minority Leader; and be it further
21 RESOLVED, That the Special Committee on Automatic Teller
22 Machine Fees report to the full Senate within 6 months after
23 the adoption of this resolution.