Prohibits financial institutions from charging fees during a chargeback dispute until resolution.
The Chargeback Fairness and Transparency Act amends the South Carolina Code to prohibit financial institutions from charging fees on merchants or consumers during a chargeback dispute until the dispute is resolved and written notice is provided. The Department of Consumer Affairs oversees implementation and enforcement. The act takes effect upon approval by the Governor.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.