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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

Since January 2004, Austin Jenkins has been the Olympia-based political reporter for the Northwest News Network. In that position, Austin covers Northwest politics and public policy as well as the Washington State legislature. You can also see Austin on television as host of TVW's (the C–SPAN of Washington State) Emmy-nominated public affairs program "Inside Olympia." Prior to joining the Northwest News Network, Austin worked as a television reporter in Seattle, Portland and Boise. Austin is a graduate of Garfield High School in Seattle and Connecticut College in New London, Connecticut. Austin’s reporting has been recognized with awards from the Association of Capitol Reporters and Editors, Public Radio News Directors Incorporated and the Society of Professional Journalists.
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