Debit card holds; disclosures. (SB690)

Introduced By

Sen. Creigh Deeds (D-Bath)

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

Bill Has Failed

History

DateAction
01/10/2018Prefiled and ordered printed; offered 01/10/18 18102270D
01/10/2018Referred to Committee on Commerce and Labor
01/22/2018Failed to report (defeated) in Commerce and Labor (6-Y 8-N) (see vote tally)