Posted by Tamela Adamson-McMullen
Credit card companies have been under attack in recent weeks and months for the fees and rules they impose on retailers.
One of the latest to join the battle is Vermont. The Vermont Legislature recently approved a bill that would make it easier for merchants to give discounts to customers who pay by cash, check or debit card rather than by credit card. The bill initially passed the Senate with a vote of 30-0 on March 31, cleared the House 139-0 on April 29 and is heading to Gov. Jim Douglas for his signature.
If signed into law, the bill would allow Vermont retailers to set a minimum credit card purchase of up to $10 without interference from Visa and MasterCard, which currently bar minimum purchase amounts. Card companies would be prohibited from dictating how (more…)