Credit card transaction fees.

WORKING DRAFT
2012
STATE OF
WYOMING
12LSO-0198

HOUSE BILL
NO.
HB0099

Credit card transaction fees.

Sponsored by:

Representative(s) Zwonitzer, Dv. and Senator(s) Peterson

A BILL

for

AN ACT relating to
consumer protection; establishing maximum rates for credit card transaction fees; providing exemptions; providing definitions; providing a penalty
;
and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.
W.S. 40
‑
25
‑
101 through 40
‑
25
‑
103 are created to read:

CHAPTER 25
CREDIT CARD TRANSACTION FEES

40
‑
25
‑
101.

Definitions.

(a)

As used in this chapter, unless the context otherwise requires:

(i)

"Card issuer" or "issuer" means a person doing business in Wyoming that issues a credit card or debit card, or that person's agent or
assignee
related to the credit card;

(ii)

"Card transaction" or "transaction" means a cash advance, purchase or other extension of credit effected or obtained through the use of a credit card or account number;

(iii)

"Credit card" or "card" means any card, plate, coupon book or other credit device that is issued primarily for consumer credit purposes and that may
be
used to obtain credit including, without limitation, a card that may be used to effect transactions governed by chapter 14 of this title;

(iv)

"Debit card" means any instrument, writing or other evidence known by any name issued with or without fee by an issuer for the use of a depositor in obtaining money, goods, services or anything else of value, payment
of which is made against funds
previously
deposited in an account with the issuer;

(v)

"Retail merchant" means a business with at least eighty percent (80%) of its credit card transactions conducted through a credit card terminal.

40
‑
25
‑
102.

Limitation on transaction fees.

(a)

Except as otherwise provided in W.S. 40
‑
25
‑
103, no card issuer shall charge a retail merchant more than
one and
seventy-f
ive hundredths of one percent (1
.75%) per transaction involving the use of a credit or debit card;

(b)

A violation of subsection (a) of this section shall be deemed an unfair and deceptive act under W.S. 40
‑
12
‑
105.

40
‑
25
‑
103.

Applicability.

The provisions of this chapter shall not be construed to impair any contract between a credit card issuer and a retail merchant which was entered
into
prior to July 1, 2012. The provisions of this chapter shall apply only to
new contracts between a credit card issuer and a retail merchant entered into on or after July 1, 2012.

Section 2.

W.S. 40
‑
12
‑
105(a) by
creating
a new paragraph (xvi) is amended to read:

40
‑
12
‑
105.

Unlawful practices.

(a)

A person engages in a deceptive trade practice unlawful under this act when, in the course of his business and in connection with a consumer transa
ction, he knowingly:

(xvi)

Violates W.S. 40
‑
25
‑
102(a).

Section
3
.

This act is effective July 1, 2012.

(END)

1
HB0099