Bills › 89th General Assembly
Relating to interchange fees charged by card issuers
Topics:Business & economy
Where it is now
- Done: IntroducedFebruary 22, 2021
- Done: SubcommitteeFebruary 23, 2021
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary Banks and credit card companies can charge a fee based on a percentage of what you buy with a credit card. This fee is calculated using the cost of your items and certain beverage container taxes, but it does not include regular sales tax.1
Read the official explanation
This bill relates to interchange fees charged by card issuers. The bill authorizes a card issuer to charge an interchange fee in conjunction with a transaction pursuant to a credit card that is a percentage of the total value of the goods or services purchased by a cardholder, excluding taxes, plus all amounts paid by the cardholder pursuant to Code chapter 455C (beverage containers control). The bill defines “interchange fee” as any fee established, charged, or received by a card issuer for the purpose of compensating the card issuer for its involvement in the transaction pursuant to a credit card.
House subcommittee
Named February 23, 2021. Meeting: Tuesday, March 2 · 12:30 PM · RM 102, Sup. Ct. Consult.
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