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Committee hears bill to allow businesses and collectors to pass credit‑card transaction fees to customers, capped at 3% with disclosure
Summary
Senate Bill 528 would permit landlords, merchants, vendors and debt collectors to add a credit‑card transaction fee not exceeding 3% if the charge is disclosed before the transaction; proponents said the change levels the playing field and helps small businesses and collection agencies recoup processing costs.
Senate Bill 528, introduced by Sen. Jeremy Trebis, would allow landlords, merchants, property managers, creditors and others to assess a credit‑card transaction fee of up to 3% of the transaction amount so long as the fee is clearly disclosed to the payer before the transaction. The House Business and Labor Committee heard proponents who said the cap and disclosure protect consumers while letting small businesses and collection agencies recover processing costs.
Why it matters: Proponents said certain businesses — notably small collection agencies and convenience‑store retailers — currently absorb card processing fees that can add up to sizable…
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