An Act relative to price-fixing prohibition, consumer transparency & tax fairness
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to increase transparency in pricing practices by payment card networks, issuers, and merchants, and to address potential price-fixing concerns. It seeks to ensure consumers are aware of all fees and charges associated with transactions. The bill also proposes adjustments to tax fairness related to these practices. It is currently being reviewed by the Financial Services committee.
Key provisions
- Requires payment card networks, issuers, and merchants to disclose all fees and charges.
- Prohibits certain practices that could lead to price-fixing.
- Addresses potential tax fairness issues related to transaction fees.
- Supports a study order (H4931) regarding consumer rights.
Who is affected
- Consumers
- Payment card networks
- Issuers (banks and credit card companies)
- Merchants
Notable changes
- Focuses on increased transparency in transaction fees.
- Addresses potential anti-competitive practices.
- Links to a related study order (H4931).
Bill text
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Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
Steven George Xiarhos
Arguments
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