Concerns credit card interchange fees and consumer protection.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to protect consumers and increase competition in the credit card industry by regulating interchange fees. It addresses the lack of competition among credit card networks and the resulting impact on merchants, who often pass these fees onto consumers through higher prices. The bill prohibits electronic payment systems from imposing restrictions on merchants’ ability to offer discounts or choose payment systems, and requires them to reimburse merchants for any associated fees or penalties resulting from violations.
Bill text
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Document of record
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Sponsors
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6 on record
Primary sponsors
Cosponsors
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