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Proposed Legislation Credit Cards

Sheppard Mullin Richter & Hampton LLP

Illinois Delays Interchange Fee Ban by One Year

On June 1, the Illinois General Assembly passed a bill that, if enacted, will delay the effective date of the Interchange Fee Prohibition Act by one year, from July 1, 2025, to July 1, 2026. The law prohibits financial...more

Orrick, Herrington & Sutcliffe LLP

Illinois amendment to delay the effective date of its Interchange Fee Prohibition Act passes both chambers

On May 31, the Illinois General Assembly passed legislation to defer the effective date of the Interchange Fee Prohibition Act by one year until July 1, 2026. As previously covered by InfoBytes, Illinois originally enacted...more

Ballard Spahr LLP

Senators Sanders, Hawley introduce legislation to cap credit card interest rates at 10%

Ballard Spahr LLP on

Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%....more

Troutman Pepper Locke

Senators Sanders and Hawley Propose Legislation Capping Credit Card Interest Rates

Troutman Pepper Locke on

On February 4, Senators Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) introduced bipartisan legislation aimed at immediately capping credit card interest rates at 10% for a period of five years. This initiative follows a...more

Sheppard Mullin Richter & Hampton LLP

California Increases the Pressure on Alleged “Junk Fees”: New Law Targets ATM Charges

The topic of “junk fees” has been in the headlines, spurred by legislative action across various sectors. From regulations on credit card late fees to the Federal TICKET Act targeting concert event fees, lawmakers are...more

Troutman Pepper Locke

California Attorney General Sponsors Bill Banning Credit Reporting of Medical Debt

Troutman Pepper Locke on

On April 2, the California Senate Judicial Committee passed Senate Bill 1061. The bill seeks to prevent health care providers and contracted collection agencies from providing information about patients’ medical debt to...more

Venable LLP

New York Implements a New Surcharge Law: What the Changes Mean for Shoppers and Businesses

Venable LLP on

On February 11, 2024, a new law went into effect in New York, establishing important limits and rules for surcharging. Enacted in December 2023, the new statute has a price disclosure component, detailing how surcharge prices...more

Troutman Pepper Locke

Key Elements of the Proposed Credit Card Competition Act

Troutman Pepper Locke on

In June, Sens. Richard Durbin, D-Ill., Roger Marshall, R-Kan., Peter Welch, D-Vt., and J.D. Vance, R-Ohio, introduced the Credit Card Competition Act of 2023, which is a reintroduction of a substantially identical bill...more

Troutman Pepper Locke

Analyzing the Credit Card Competition Act of 2023 - Payments Pros: The Payments Law Podcast

Troutman Pepper Locke on

In this episode of Payments Pros, Josh McBeain welcomes Isaac Boltansky, managing director and director of policy research at BTIG to discuss the proposed Credit Card Competition Act led by Senator Durbin from Illinois. ...more

Spilman Thomas & Battle, PLLC

West Virginia Legislature Again Considers Bill to Reduce Penalties Available Under the WVCCPA

The West Virginia Legislature is in session and again is considering a bill to reduce penalties available under the West Virginia Consumer Credit and Protection Act ("WVCCPA" or "Act"). The Act is the primary statute under...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - November 2017

ANTICORRUPTION DEVELOPMENTS – SBM Offshore N.V. Agrees to Pay $238 Million to Resolve DOJ FCPA Enforcement Action - On November 29, 2017, SBM Offshore N.V. (SBM), a Netherlands based company specializing in the...more

Orrick, Herrington & Sutcliffe LLP

Notifying Parties In Username/Password Breaches . . . It’s Not Just the Law

As we head into the end of 2015, state legislators across the country continue to strengthen, update and, in some instances, broaden the scope of their respective state data breach notification laws. Specifically, many...more

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