JP Morgan NW chair says fee will be disclosed at ATMs
NEAR CLE ELUM, Wash. – JPMorgan Chase is on track to comply with a new state law that requires disclosure of an 85-cent ATM fee charged to welfare recipients. So says the company’s Northwest chairman, Phyllis Campbell.
“We’re working hard to figure out how we can disclose that on our ATMs and is part of the law now and we absolutely are complying. We’re very close to making sure it will be done. The question is can it be done on other bank’s ATMs and that’s something I can’t answer,” Campbell said.
The fee is charged to Washington welfare clients when they use their state-issued electronic benefits card to withdraw cash. But the ATM machine does not first warn them they’re about to incur a charge. In response to Northwest News Network reporting, lawmakers earlier this year passed legislation that requires JPMorgan to warn clients of the fee at the time of the transaction.
Copyright 2011 Northwest News Network