New York S06125 prohibits payment card networks from penalizing small businesses or financial intermediaries for failing to comply with credit card.
New York S06125 amends the general business law to prevent payment card networks from imposing penalties on small businesses or financial intermediaries who do not adhere to credit card surcharge notice requirements. The bill also declares any contractual clauses that attempt to impose such penalties as void. This legislation aims to protect small businesses and financial intermediaries from unfair penalties related to credit card surcharge notices.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.