WASHINGTON–Presidential candidate Bernie Sanders is vowing to cap ATM fees at $2 if he is elected president.
"In my view, it is unacceptable that Americans are paying a $4 or $5 fee each time they go to the ATM," Sanders said. The candidate has in the past said the big banks are making “billions” in profits from the fees.
Sanders’ rival for the Democratic nomination, Hillary Clinton, has also been critical of ATM fees, calling them “usurious.”
Sanders, an outspoken critic of Wall Street, also said that no one from Goldman Sachs will ever work in his administration. That statement is a jab at Clinton, as one of her advisors, Gary Gensler, is an 18-year veteran of Goldman Sachs.
Sanders has said the big banks are “destroying the very fabric of our nation."
"Greed, fraud, dishonesty and arrogance. These are some of the words that best describe the reality of Wall Street today," said Sanders, who has called for breaking up the biggest banks.
The Vermont senator said that if elected he would in the first days of his presidency make a list of "too big to fail" commercial banks, shadow banks and insurers.
For her part, Clinton has proposed a fee on banks of more than $50 billion in assets.