Texas HB4061 prohibits credit card issuers and payment card networks from fixing fees and requires disclosure of certain fees.

Texas HB4061 amends the Business & Commerce Code to establish rules for credit card issuers and payment card networks. Credit card issuers with over $85 billion in assets cannot fix swipe fees or charge interchange fees based on certain fee schedules. They must also disclose swipe fees on monthly statements. Payment card networks cannot fix swipe fees, require merchants to accept specific credit cards, or charge fees for disputed transactions without a finding of fault. Networks must disclose fees charged to merchants within 45 days of a transaction.

Texas HB4061 prohibits credit card issuers and payment card networks from fixing fees and requires disclosure of certain fees.

Texas HB4061 amends the Business & Commerce Code to establish rules for credit card issuers and payment card networks. Credit card issuers with over $85 billion in assets cannot fix swipe fees or charge interchange fees based on certain fee schedules. They must also disclose swipe fees on monthly statements. Payment card networks cannot fix swipe fees, require merchants to accept specific credit cards, or charge fees for disputed transactions without a finding of fault. Networks must disclose fees charged to merchants within 45 days of a transaction.