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SB 528

TO ADDRESS THE POWERS AND DUTIES OF THE OFFICE OF SKILLS DEVELOPMENT AND THE CAREER EDUCATION AND WORKFORCE DEVELOPMENT BOARD RELATED TO SECONDARY TECHNICAL CENTERS.

2025 Regular Session Introduced by Howard Beaty and 1 co-sponsor

SB 528 aimed to regulate credit card transaction fees, enhancing consumer protection by potentially lowering costs and ensuring clearer fee disclosures at the point of sale.

Died in Senate Committee at Sine Die adjournment.
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WeVote Research Nonpartisan
Bill Summary · SB 528

Summary of SB 528: Revising Laws Related to Credit Card Transaction Fees

Bill Overview

Bill Number: SB 528
Title: Revising laws related to credit card transaction fees
Status: Died in Standing Committee
Introduced: December 13, 2024
Classification: Bill
Subject: Consumer Protection, Credit Transactions (also related to Financial Institutions)

Purpose and Intent

The primary purpose of SB 528 was to address and revise existing laws governing credit card transaction fees. The bill aimed to enhance consumer protection by potentially regulating the fees charged by credit card companies and ensuring that consumers are not unfairly burdened by excessive charges during credit transactions.

Key Provisions

While the specific text of the bill is not provided, the intent suggests the following potential provisions:
- Regulation of Fees: Establishing limits on the fees that credit card companies can charge merchants, which may indirectly affect consumers by lowering costs.
- Transparency Requirements: Mandating clearer disclosures regarding transaction fees to consumers at the point of sale.
- Consumer Protections: Implementing measures to protect consumers from unexpected charges related to credit card transactions.

Impact

The bill, if passed, would have impacted:
- Consumers: By potentially lowering transaction fees, consumers could benefit from reduced costs when using credit cards.
- Merchants: Businesses accepting credit cards would likely see changes in the fees they pay to credit card companies, which could affect their pricing strategies.
- Credit Card Companies: The legislation could have imposed new regulations on how these companies operate regarding fee structures.

Legislative Timeline

  • 2024-12-13: Bill introduced and assigned to a drafter.
  • 2025-02-28: The bill was referred to the Senate Committee on Business, Labor, and Economic Affairs.
  • 2025-03-07: Passed the Senate after multiple readings and committee approvals.
  • 2025-03-17: Transmitted to the House, where it underwent further readings and amendments.
  • 2025-05-23: The bill ultimately died in the Standing Committee, indicating it did not progress to a vote.

Conclusion

SB 528 represented an effort to reform credit card transaction fees with the intent of enhancing consumer protection and promoting fair practices in credit transactions. Despite its introduction and initial support, the bill did not advance through the legislative process, highlighting the challenges of enacting financial regulations in a complex legislative environment.

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

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