Relating to the processing fee charged for a dishonored payment device.
Impact
If enacted, HB 2793 will impact how businesses and individuals manage transactions involving payment devices, specifically in instances where a payment is not honored. By standardizing the processing fee at a maximum of $30, the bill hopes to reduce confusion over charges that could arise from dishonored payments. This change is particularly significant for businesses that rely on payment devices as it could influence their financial strategies and impact consumer behavior regarding payment defaults.
Summary
House Bill 2793 relates to the processing fee that can be charged for a dishonored payment device. The bill amends Section 3.506(b) of the Texas Business and Commerce Code, setting a maximum processing fee of $30 that can be charged to the drawer or indorser when a payment device is returned due to dishonor. This legislative measure aims to streamline the fee structure and provide clearer guidelines for parties involved in transactions that utilize payment devices, enhancing clarity in commercial practices.
Contention
The main points of contention regarding HB 2793 may revolve around the implications of the processing fee on consumers and small businesses. Opponents might argue that even a standardized fee could disproportionately affect individuals who frequently deal with dishonored payments, as these fees can accumulate. Additionally, there may be concerns about the adequacy of the fee cap in covering the costs associated with processing and collections, potentially pressuring businesses to absorb some of the losses from dishonored payments.
Relating to regulating the cultivation, manufacture, processing, distribution, sale, testing, transportation, delivery, transfer, possession, and use of cannabis and cannabis products; authorizing the imposition of fees; requiring occupational licenses; creating a criminal offense.