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Bill

Bill

HB 260

Check cashers and MS Credit Availability licensees; authorize to pass credit/debit card fees to customers.

2025 Regular Session Introduced by Hank Zuber

Allows check cashers and credit lenders to charge customers for credit/debit card processing fees, potentially increasing costs for low-income consumers.

Died In Committee
#bankingandfinancialservices
0
WeVote Research Nonpartisan
Bill Summary · HB 260

Legislative bill overview

HB 260 would have authorized check cashers and Mississippi Credit Availability (MCA) licensees to pass credit and debit card processing fees directly to customers. Currently, these businesses likely absorb these fees or face restrictions on passing them along. The bill died in the Banking and Financial Services Committee in February 2025.

Why this is important

Check cashers and credit availability services serve unbanked and underbanked populations who may lack traditional banking access. Allowing fee pass-through could increase operational costs for vulnerable consumers already paying premium prices for financial services, or it could allow these businesses to remain competitive and continue serving this market if they're operating at thin margins.

Potential points of contention

  • Consumer protection concerns: Low-income customers using check cashers and credit services would bear additional costs, potentially making essential financial services less affordable for those with fewest alternatives
  • Market competition: Passing fees to customers could disadvantage businesses that absorb costs, potentially reducing competition and service availability in underserved areas
  • Regulatory precedent: Traditional banks are generally prohibited from passing certain processing costs to consumers; extending this to alternative financial service providers raises fairness and consistency questions

Compiled from official sources — confirm details with the bill’s official record.

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