Democratic Candidates Say They Will Take On ATM Fees

WASHINGTON -- Democratic frontrunner Hillary Clinton and dark horse Bernie Sanders appear to be looking at capping ATM fees.

While trading quips recently on the "Late Show" with Stephen Colbert, Clinton promised to "go after" transaction fees. When the discussion turned to bank and Wall Street reform, Colbert joked, "Can you at least just get back from them the $3 they charge us to take $20 out of an ATM?"

"You know what? We need to go after that, too. Don't you think? Yeah, it's usurious," Clinton answered.

Interestingly, Clinton's closest opponent in the campaign, Sen. Bernie Sanders is also looking to make ATM operators "feel the Bern." The longtime Senator from Vermont has been fighting transaction fees for more than a decade. In a recent interview, Sanders' policy director said, "As president, Sen. Sanders would make it a priority to stop big banks from charging these outrageous fees."

While beating up on big banks certainly has its appeal, both Sanders and Clinton seem unaware that a large percentage of ATMs are owned and operated by small businesses, which could not offer the convenience of money machines without fee structures.