Senate Rejects Ban on Extra ATM Fees

The Senate rejected legislation that would have banned double-charging for automated teller machine transactions, frustrating a major election-year campaign by Sen. Alfonse M. D’Amato (R-N.Y.). D’Amato, chairman of the Senate Banking Committee, pledged after the 72-26 vote: “I lost this battle . . . but I am prepared to continue this battle and win the war.” Sen. Barbara Boxer (D-Calif.) promised D’Amato she would keep up the fight with him. The move came as the Senate started to wade through legislation to overhaul personal bankruptcy laws after weeks of stalled efforts and closed-door negotiations. D’Amato has been crusading for years to ban ATM surcharges on top of charges imposed by customers’ own banks for using an automated teller machine operated by another bank. A study by congressional investigators found that 64% of the nation’s banks impose surcharges, which average $1.27.