Tranel Bill Bans Credit Card Swipe Fees
Madison - Today, Rep. Travis Tranel (R-Cuba City) introduced a consumer protection bill (LRB 1988/1) to prohibit merchants from imposing credit card surcharges on consumer credit transactions.
This bill would prevent a merchant from imposing a swipe fee, convenience fee, or checkout fee on transactions involving credit cards. There are currently ten states which ban this practice, including California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma, and Texas.
“It is ridiculous to think that consumers can be hit with a 1 to 4 percent fee just because they pay for items with their credit card,” said Tranel. “I am happy to be introducing this bi-partisan consumer protection legislation that will prohibit the practice in Wisconsin.”
Eighteen additional states are currently considering similar legislation as a result of new rules which would allow merchants, for the first time ever, to impose surcharges on MasterCard and Visa purchases.
Senator Dave Hanson (D-Green Bay) will be the lead sponsor of the bill in the State Senate.