Wednesday, August 10, 2016
In an effort to assist the ATM industry with one of its most challenging issues, the ATM Industry Association (ATMIA) has re-released its industry report “Operation Choke Point: An ATM Industry Update.” Originally published in June, 2016 and available only to ATMIA members, it is now available to non-members, as well.
Sponsored by the U.S. Independent ATM Deployer Committee, the report details the issues the ATM industry has faced due to Operation Choke Point (OCP) and how independent ATM deployers (IADs) can protect their businesses and respond to bank inquiries.
The report includes insights from IADs who have faced OCP head-on – what they encountered and how they were able to handle the situation. It also details actions taken by ATMIA to halt OCP and tips to keep bank accounts open.
ATMIA has taken a two-fold approach. The first is to discuss the issue with Congress – ensuring they understand the full effects OCP has had on legal businesses and pushing for corrective legislation. The second is to educate the industry.
U.S. ATMIA Executive Director David Tente and president/CEO of the Electronic Funds Transfer Association, Kurt Helwig, recently met with Rep. Leutkemeyer (R-MO) to discuss the destructive impact of OCP on the industry.
Luetkemeyer's bill H.R. 766, which aims to end OCP, passed the House with bipartisan support in February. A companion bill was introduced in April by Senators Mike Lee (R-UT) and Ted Cruz (R-TX) in the Senate. President Obama strongly opposes H.R. 766 and has said he would veto the legislation.
Tente recommends IADs get involved by joining ATMIA committees, contributing to the U.S. Legal Defense Fund and contacting their elected representatives. He also asks IADs that receive account closer letters to forward them to ATMIA.
“Operation Choke Point: An ATM Industry Update.” can be downloaded here.
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