OTTAWA - New Democrat MP Judy Wasylycia-Leis is proposing a private member's bill that would effectively ban fees at automated teller machines in Canada.
Wasylycia-Leis wants to amend the Bank Act to prohibit banks from charging for the electronic transfer of funds or account information through ATMs.
She says Finance Minister Jim Flaherty has the power to put an end to what she's calling "bank-fee gouging'' but she says he's been sitting on the fence.
Wasylycia-Leis says ordinary Canadians cannot afford to subsidize the hugely profitable banking industry with so-called "loyalty'' or "convenience'' fees.
She says banks are saving millions of dollars through reduced personal-branch services, yet fees continue to rise and costs are passed on to finance exorbitant profits.
She says ATM fees amount to only 0.2 per cent of bank income while banks have laid off tellers, reduced their hours and closed branches.
