Minnesota 2023-2024 Regular Session

Minnesota House Bill HF1570

Introduced
2/9/23  
Refer
2/9/23  

Caption

Limitations on credit card surcharges modified.

Impact

Should HF1570 be enacted into law, it will have a significant impact on consumer transactions in Minnesota. The bill specifies that credit or charge card surcharges cannot exceed five percent of the purchase price, which aims to protect consumers from excessive fees. Additionally, it obligates sellers to provide clear and conspicuous notice of these surcharges at the point of sale, whether that occurs in person, online, or over the phone. This move is seen as a way to enhance consumer rights and improve the clarity of payment practices within state law.

Summary

House File 1570 is a legislative proposal aimed at modifying the limitations on credit card surcharges imposed by sellers or lessors of goods and services in Minnesota. The bill updates existing provisions under Minnesota Statutes 2022, specifically section 325G.051, to establish clearer guidelines regarding when and how such surcharges can be applied. It mandates that any seller or lessor who decides to impose a surcharge must notify the buyer at key points during the transaction, ensuring transparency.

Contention

The discussions surrounding HF1570 may reflect broader debates over consumer rights versus business interests. While proponents argue that the bill enhances consumer protection by providing clear structures around surcharges, detractors might express concerns about the constraints it places on sellers. These could include arguments about how such regulations might hinder businesses' flexibility to manage their payment processing costs effectively. Furthermore, there may be differences in opinion regarding the appropriateness and fairness of surcharges in general.

Companion Bills

MN SF1565

Similar To Credit card surcharges limitations modifications

Previously Filed As

MN SF1565

Credit card surcharges limitations modifications

MN HB4351

Consumer Credit Code; surcharges; effective date.

MN HB3667

Consumer Credit Code; surcharge; electronic payment fee; effective date.

MN S2738

General Regulatory Provisions--surcharges On Credit Card Transactions

MN AB2695

Credit card surcharges.

MN SB677

Sales transactions; discounts inducing payment by cash, check, or similar means; options; disclosure; surcharges; repealing provision prohibiting surcharge on use of credit and debit card. Effective date.

MN SF2219

Historical horse racing prohibition

MN S3697

Prohibits seller from charging credit card surcharges; establishes notice requirements for credit card minimums and cash discounts.

MN A4923

Prohibits seller from charging credit card surcharges; establishes notice requirements for credit card minimums and cash discounts.

MN S278

Relative to credit card surcharges

Similar Bills

No similar bills found.