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1995 SESSION

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SJ 241 Credit card service charges.

Introduced by: Madison E. Marye | all patrons    ...    notes | add to my profiles

SUMMARY:

Credit card service charges. Memorializes Congress to amend the federal Truth in Lending Act to prohibit issuers of credit cards from limiting the ability of governmental entities to assess a service charge against customers paying by credit card. Currently, Virginia's agencies and local governments are authorized to accept credit cards for the payment of certain fees, taxes, fines, and charges, and to assess the person paying by credit card a service charge covering any fees incurred as a result of payment by credit card. The policies of credit card companies prohibit merchants accepting credit cards from passing on any fees to the customer. This policy is unreasonable when applied to governments because they, unlike most merchants, cannot increase prices to offset credit card fees. A similar measure was introduced in Congress in 1993 (H. R. 2175).


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