The bill H. 4968 proposes an amendment to the South Carolina Code of Laws by adding Section 34-3-120, which stipulates that banks or financial institutions are prohibited from charging fees exceeding one dollar and seventy-five cents for each automated teller machine (ATM) transaction. This legislative change aims to regulate ATM fees and provide financial relief to consumers who utilize these services.

The bill is currently under consideration in the House Committee on Labor, Commerce and Industry, having been introduced on January 15, 2026. If enacted, the new fee cap would take effect upon approval by the Governor, ensuring that consumers are not subjected to excessive charges for ATM transactions.

Statutes affected:
01/15/2026: 34-3-120
Latest Version: 34-3-120