FEASIBILITY STUDY.

SEC. 704. FEASIBILITY STUDY. (a) In General.—The Comptroller General of the United States shall conduct a study of the feasibility of requiring, in connection with any electronic fund transfer initiated by a consumer through the use of an automated teller machine— (1) a notice to be provided to the consumer before the consumer is irrevocably committed to completing the transaction, which clearly states the amount of any fee that will be imposed upon the consummation of the transaction by— (A) any automated teller machine operator (as defined in section 904(d)(3)(D)(i) of the Electronic Fund Transfer Act) involved in the transaction;113 STAT. 1465 (B) the financial institution holding the account of the consumer; (C) any national, regional, or local network utilized to effect the transaction; and (D) any other party involved in the transfer; and (2) the consumer to elect to consummate the transaction after receiving the notice described in paragraph (1). (b) Factors to be Considered.—In conducting the study required under subsection (a) with regard to the notice requirement described in such subsection, the Comptroller General shall consider the following factors: (1) The availability of appropriate technology. (2) Implementation and operating costs. (3) The competitive impact any such notice requirement would have on various sizes and types of institutions, if implemented. (4) The period of time that would be reasonable for implementing any such notice requirement. (5) The extent to which consumers would benefit from any such notice requirement. (6) Any other factor the Comptroller General determines to be appropriate in analyzing the feasibility of imposing any such notice requirement. (c) Report to the Congress.—Before the end of the 6-month period beginning on the date of the enactment of this Act, the Comptroller General shall submit a report to the Congress containing— (1) the findings and conclusions of the Comptroller General in connection with the study required under subsection (a); and (2) the recommendation of the Comptroller General with regard to the question of whether a notice requirement described in subsection (a) should be implemented and, if so, the manner in which such requirement should be implemented.