BOSTON (Legal Newsline) - Massachusetts Attorney General Martha Coakley announced a $50,000 settlement Tuesday with an automated teller machine provider to resolve allegations that it failed to post fee disclosure notices on some machines.
Atlas ATM Corporation provides ATMs to restaurants, convenience stores and other retail businesses in Massachusetts. Atlas allegedly failed to post fee-related disclosures on certain machines to alert consumers about being charged for ATM transactions.
"Companies should be held accountable for providing appropriate fee disclosures to consumers," Coakley said. "Consumers will now be notified by this ATM provider before they use their debit and credit cards. We appreciate the cooperation of the Division of Banks in this joint investigation as we review ATM disclosure practices throughout the commonwealth."
Under the terms of the settlement, Atlas must pay $50,000 to the state, revise its internal procedures to make sure consumers receive all required disclosures before using an Atlas ATM and conduct periodic reviews of its machines to ensure ongoing compliance with the requirements of the agreement.
The settlement is the latest resolution in Coakley's industry-wide inquiry into non-bank ATM disclosure policies. In May, Coakley's office and the Division of Banks announced a settlement of similar allegations with Merrimak ATM Group.