Tennessee Senate Bill SB2615

Tennessee 2023-2024 Regular Session

• Introduced: 1/31/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 9 and Title 47, Chapter 18, relative to payments by consumers.

Impact

If enacted, SB2615 will significantly impact retail operations throughout Tennessee by enforcing retailers to accept cash payments regardless of their existing payment policies. This law would primarily apply to businesses that employ six or more individuals, thus focusing on medium to large retail shops. The amendments assert that not allowing cash as a payment option could be classified as an unfair or deceptive act, which would expose retailers to penalties under existing consumer protection statutes.

Summary

Senate Bill 2615 proposes amendments to the Tennessee Code Annotated, specifically within Title 9 and Title 47, Chapter 18, to regulate payment methods accepted by retailers. The main objective of the bill is to ensure that consumers are not forced to pay via credit card or similar methods and to mandate the acceptance of cash as a legal form of payment for in-person transactions. This legislative action stems from ongoing concerns regarding consumer rights and the practices of certain businesses that may restrict payment options available to customers.

Contention

While this bill garners support for enhancing consumer rights, there are voices of concern regarding the feasibility and practical implications of enforcing such regulations. Opponents argue that such a mandate could create operational disruptions for retailers who may prefer primarily cashless transactions for efficiency reasons. Additionally, there are concerns about the implications for businesses operating in urban areas where cash handling may introduce additional risks or inefficiencies.

Notable_points

The legislation also introduces an enforcement mechanism by categorizing non-compliance as an unfair or deceptive act within the framework of Tennessee's existing consumer protection laws. By doing so, the bill not only seeks to protect consumers by ensuring they have the right to use cash but also establishes legal consequences for businesses that might attempt to circumvent these regulations. As this bill progresses, discussions will likely focus on balancing the need for consumer protection with the operational realities faced by retailers.