HB1019 - Tennessee: Credit And Debit Cards

Companion Bill SB0850. Credit and Debit Cards - Restricts processing fee charged to retail merchants for the use of credit or debit cards to .75 percent per transaction. - Amends TCA Title 47, Chapter 22. Fiscal Summary for HB1019 / *SB0850Decrease State Expenditures - $121,000 Bill Summary for HB1019 / *SB0850 This bill prohibits persons who issue credit and debit cards from charging retail merchants who conduct at least 80 percent of their credit card transactions through a credit card terminal more than .75 percent for all processing fees involving the use of a credit or debit card. Any violation of this bill would be a violation of the Tennessee Consumer Protection Act of 1977, thereby subjecting the violator to the penalties of that Act, including treble damages. This bill only applies to contracts between credit card issuers and merchants [...]

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