New Jersey Senate Bill S3034

New Jersey 2022-2023 Regular Session

• Introduced: 9/22/22
• Refer: 9/22/22

Caption

Prohibits person experiencing coin shortage from charging consumers higher price for cash payment.

Impact

If enacted, S3034 would amend existing consumer protection laws by categorizing the practice of charging higher cash prices during a coin shortage as an unlawful practice under New Jersey's consumer fraud statute. This change would empower consumers by providing them with the right to seek penalties and damages against retailers who violate the law, enhancing overall consumer rights and protections in financial transactions.

Summary

Senate Bill S3034, introduced in New Jersey, aims to protect consumers from being charged higher prices when choosing to pay in cash during a coin shortage. The bill specifically prohibits retailers experiencing a coin shortage from imposing additional charges on cash transactions. The underlying intent is to ensure equitable treatment of consumers regardless of payment method, especially during times when coin availability affects normal retail operations.

Contention

Debate around S3034 may center on the balance between retailers' operational challenges and consumer protections. While supporters argue that the bill is necessary to prevent unfair pricing strategies during coin shortages, opponents may raise concerns about its practicality for small businesses that could struggle without the ability to adjust pricing in response to fluctuating coin availability. The legislation may evoke discussions on market regulations versus free enterprise.