New Jersey S1717 regulates credit card interchange fees to protect consumers and promote competition.
New Jersey S1717 addresses credit card interchange fees, aiming to protect consumers from inflated prices caused by these fees. The bill prohibits electronic payment systems from imposing certain conditions on merchants, such as restricting the display of pricing or limiting the number of payment systems a merchant can use. It also allows merchants to offer discounts for using cash or other credit cards. Violations of the bill's provisions are considered unlawful practices under the consumer fraud act, with penalties including monetary fines and cease and desist orders.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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