Maine Puts Stop To Debit Card Surcharges
Governor John E. Baldacci has signed LD 1779, which is An Act to Prohibit Surcharges on the Use of Debit Cards.
“Since 1981, Maine law has protected consumers from credit card surcharges,” Governor Baldacci said. “This legislation updates the law to include debit cards, which have grown in popularity and use. This bill is an important protection that will prohibit surcharges on those who use debit cards.”
In addition, Governor Baldacci sent a letter to Superintendent Lloyd LaFountain of the Bureau of Financial Institutions directing that he form a stakeholders group to examine issues related to credit and debit card fees and their impact on Maine merchants.
“During the discussion of this issue, Maine merchants raised concerns about the cost of credit and debit card transactions and interchange fees that they pay when consumers use a card to purchase goods and services,” Governor Baldacci said. “During these difficult times, it is important to protect consumers. At the same time, it is equally important to ensure that Maine’s small business owners are not unfairly burdened by onerous card fees.”
The stakeholders group will meet during the summer and will discuss the broader issues surrounding the use of debit and credit cards.
If problems are identified, the group will also work to identify options for relief within the context of State law.
Topics: 1981, 2010, business, chagre card, consumers, credit, credit card surcharges, credit cards, debit cards, debit transactions, economic development, economic growth, economic recovery, Economy, fees, goods, Governance, government, Governor John E. Baldacci, internet, LD 1779, Maine, merchants, monitor, news, online shopping, protection, services, shopping, small business owners, society, state law, U.S., United States
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