News & Analysis as of

Surcharges Financial Services Industry

Troutman Pepper Locke

New Virginia Law Mandates Disclosure of Mandatory Fees in Consumer Transactions, Subject to Certain Exemptions

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On May 2, Virginia Governor Glenn Youngkin signed Senate Bill 1212 (SB 1212) into law, introducing new requirements and prohibitions under the Virginia Consumer Protection Act. Specifically, SB 1212 targets the disclosure of...more

Goodwin

Want to Have Customers Cover Payment Processing Fees? What You Need to Know About Credit Card Surcharging

Goodwin on

Credit card surcharging is on the rise. Imposing a surcharge in a compliant manner is more than adding a fee at the point of sale. Below we review on a high level the legal and commercial considerations for merchants before...more

Troutman Pepper Locke

Virginia Takes Step Towards Prohibiting Creditors from Charging Electronic Payment Surcharges on Credit Transactions

Troutman Pepper Locke on

On April 17, 2024, Virginia enacted HB 1519 taking a significant step towards amending the Virginia Consumer Protection Act (VCPA) to prohibit creditors from charging fees for accepting electronic payments in connection with...more

Stinson LLP

New York Amends Existing Credit Card Surcharge Prohibition

Stinson LLP on

On December 13, 2023, the State of New York enacted Assembly Bill No. 2672 (Act), which modifies New York’s ban on credit card surcharges. The revised law takes effect on February 11, 2024....more

Perkins Coie

Fintech Legal Report - February 2022

Perkins Coie on

CFPB Requests Info on Consumer Financial Products or Service Fees - On January 26, 2022, the Consumer Financial Protection Bureau (CFPB) announced the launch of an initiative to collect information from consumers,...more

BCLP

Spring Budget 2020: overview from a funds perspective

BCLP on

This briefing summarises the key announcements in the Spring Budget from a funds perspective: including the UK funds review, the SDLT surcharge for corporate and individual non-resident purchasers of UK residential property...more

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