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Sen. Emil Jones, III
Filed: 4/16/2018
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| 1 | | AMENDMENT TO SENATE BILL 2657
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2657 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Consumer Fraud and Deceptive Business |
| 5 | | Practices Act is amended by adding Section 2VVV as follows:
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| 6 | | (815 ILCS 505/2VVV new) |
| 7 | | Sec. 2VVV. Credit card and debit card transaction fees |
| 8 | | prohibited. |
| 9 | | (a) As used in this Section: |
| 10 | | "Financial institution" means a bank, savings bank, |
| 11 | | savings and loan association, credit union, or any corporate |
| 12 | | fiduciaries, subsidiaries, affiliates, parent company of a |
| 13 | | bank, savings bank, savings and loan association, or credit |
| 14 | | union. |
| 15 | | "Merchant" means a person who deals in goods of the kind or |
| 16 | | otherwise by his or her occupation holds himself or herself out |
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| 1 | | as having knowledge or skill peculiar to the practices or goods |
| 2 | | involved in the transaction or to whom such knowledge or skill |
| 3 | | may be attributed by his or her employment of an agent or |
| 4 | | broker or other intermediary who by his or her occupation holds |
| 5 | | himself or herself out as having such knowledge or skill. |
| 6 | | "Public utility" has the meaning provided in Section 3-105 |
| 7 | | of the Public Utilities Act. |
| 8 | | "Service provider" means an individual, partnership, |
| 9 | | corporation, association, organization, or any other legal or |
| 10 | | commercial entity that directly processes or transmits debit |
| 11 | | card or credit card account information for payment for goods |
| 12 | | or services for or on behalf of a merchant as part of a payment |
| 13 | | processing service. |
| 14 | | "Transaction fee" means any per transaction fee, item fee, |
| 15 | | item rate fee, per item rate fee, communication fee, address |
| 16 | | verification fee, or authorization fee imposed on the merchant |
| 17 | | or consumer by the service provider for accepting or processing |
| 18 | | a credit or debit card. |
| 19 | | (b) No service provider accepting and processing credit or |
| 20 | | debit card payments for or on behalf of a merchant may impose a |
| 21 | | transaction fee upon the merchant or the consumer. It is an |
| 22 | | unlawful practice within the meaning of this Act for a service |
| 23 | | provider to impose a transaction fee upon the merchant or |
| 24 | | consumer in connection with the processing of credit or debit |
| 25 | | card payments. |
| 26 | | (c) This Section does not apply to State or local |