Debit card holds; disclosures. (SB690)
Introduced By
Sen. Creigh Deeds (D-Charlottesville)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Debit card holds; disclosures. Requires a merchant that initiates a hold on a debit card transaction that is more than 25 percent of the actual transaction, or $50, whichever is greater, to disclose at the time and point of the sale that a hold will be placed on the cardholder's debit card account. If the hold is placed on an account due to a transaction occurring at an unmanned remote terminal, then the disclosure is required to be conspicuous at the place where the transaction occurs. In cases where the hold is part of a contractual agreement, the notice is required to be conspicuous on the written document. A violation constitutes a prohibited practice under the Virginia Consumer Protection Act. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/10/2018 | Prefiled and ordered printed; offered 01/10/18 18102270D |
01/10/2018 | Referred to Committee on Commerce and Labor |
01/22/2018 | Failed to report (defeated) in Commerce and Labor (6-Y 8-N) (see vote tally) |