General Assembly Proposed Bill No. 196
January Session, 2013 LCO No. 568
Referred to Committee on GENERAL LAW
Introduced by:
SEN. WITKOS, 8th Dist.
General Assembly
Proposed Bill No. 196
January Session, 2013
LCO No. 568
Referred to Committee on GENERAL LAW
Introduced by:
SEN. WITKOS, 8th Dist.
AN ACT RESTRICTING "CREDIT HOLDS".
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 739 of the general statutes be amended to prohibit any person who accepts credit cards for the transaction of business from placing a "credit hold" on purchases larger than the actual purchase amount.
Statement of Purpose:
To prohibit "credit holds" in an amount greater than the actual purchase price, to reduce overdraft charges by financial institutions.