The Consumer Financial Protection Bureau (CFPB) may be coming to the aid of ATM owners who are discouraged by what they perceive to be unfair rules regarding a federal law enacted more than 20 years ago.

As this blog reported earlier this month, the National Association of Convenience Stores (NASC) led a coalition of stakeholders that sent a letter to Congress asking lawmakers to consider altering the FDIC's Regulation E, which mandates that ATM owners place a sign disclosing ATM surcharges next to their Hantle and Hyosung ATM machines.

ATM owners have been wracked by consumer lawsuits against them for not posting these notices, even though most machines now inform customers of fees on the screen during the cash withdrawal process. In the NASC letter, its authors said they were frustrated by "frivolous" lawsuits, which could cost them up to $500,000 per incident.

"We have a series of photos where somebody went in to an ATM vestibule and you could see the placard on the side [of the ATM]," ATM industry observer Kurt Hellwig told ATM Marketplace this week. "They look up at the camera, they kind of hunch themselves over away from the camera. And in the next shot the placard is gone. Then, the next day that person filed a suit."

The CFPB has enhanced its website to allow consumers to post about various issues related to federal regulations, including Regulation E. According to the news source, no matter how many consumers express their complaints about the law, the CFPB cannot alter Regulation E. Instead, it can only bring attention to the issue and perhaps compel a lawmaker to sponsor legislation to alter the law.

If and until the law changes, ATM owners and merchants who buy an ATM machine should post visible signage around their devices to ensure they do not face costly lawsuits related to fee disclosures.

Constant innovations in the ATM industry have compelled many prospective ATM machine owners to purchase an ATM brand-new, complete with many of the features desired by 21st century consumers, such as the ability to deposit checks. Others have instead relied on refurbished Hyosung and Hantle ATM machines to fill their unique needs at a lower price.

Most of the upgrades currently being weighed in the ATM industry are related to security features, new provisions of the Americans with Disabilities Act (ADA) and, in the future, EMV smart card technology.

In a post about the challenges facing the ATM industry, author Daniel Swain recommended that ATM owners take an inventory of the goods they have related to old machines, such as spare parts. Some of these parts could be used to repair machines, while others may constitute upgrades for other others.

"Do not underestimate the potential value of what you might be sitting on," Swain wrote for ATM Marketplace. "Take some time to look at what you have. Yes, some of it probably needs to be thrown away. However, don't forget to look around and see if someone is interested. You just never know what someone might want."

Some merchants could truly benefit from purchasing parts from fellow owners who no longer need them. These enhancements, perhaps coupled with upgrades to security features, could enhance the user experience for ATM users without requiring owners to break the bank themselves.

An ATM reseller should be able to install these upgrades if an owner does not feel comfortable conducting repairs on his or her own. It can also supply merchants with high-quality machines that will comply with the provisions of the ADA, which must be met by March 15.

ATM machine users may may ditch their random bank-assigned PIN in favor of an easy-to-remember alternative, as a means to facilitate an accelerated cash withdrawal process. In many cases though, speed may result in reduced security, as many thieves are able to guess PINs should an ATM card fall into their hands.

A study by the University of Cambridge determined that criminals are much more effective at "jackpotting" – guessing a stolen ATM card user's PIN – than many individuals may realize. Many thieves can identify a user's birthday through a drivers license located in a wallet, and then guess a PIN based off that date. Since most PINs are only four digits, thieves can expect to guess the correct combination fairly often.

"A thief can expect to get lucky every 18th wallet – except for those banks which negligently allow their customers to choose really dumb PINs like '1111' and '1234'," researcher Ross Anderson told Bits, the technology blog for The New York Times. "There, the thief cashes out once every 11 wallets."

Although ATM users seem to create more secure passwords for their ATM cards than they do for other items, such as their cell phones, there is still room for improvement. Researchers suggested that ATM users avoid creating PINs that reflect their birthday. Some banks have also taken it upon themselves to prevent certain obvious PINs, such as "0000" or "1010," from being usable, while others have transitioned to requiring six-digit PINs.

Although customers should take an active role in protecting their own finances through better PIN practices and protection of their wallets, ATM machine owners can also play a role in mitigating instances of theft. The mere presence of surveillance equipment focusing on a Hantle ATM may deter robbers from using a stolen ATM card or installing a skimming device.