Excludes the amount of state and local taxes and fees from the amount on which an interchange fee is charged for that electronic payment transaction by a credit or debit card network; prohibits a payment card network from altering or manipulating the computation and imposition of interchange fees.
Excludes the amount of state and local taxes and fees from the amount on which an interchange fee is charged for that electronic payment transaction by a credit or debit card network; prohibits a payment card network from altering or manipulating the computation and imposition of interchange fees.
To Create The Second Amendment Financial Privacy Act; To Prohibit Financial Institutions And Payment Networks From Using Certain Discriminatory Practices; And To Provide For Enforcement Of Violations.
Creates the interchange fee restriction act prohibiting interchange fees on sales and use tax or excise tax when payment is made with a credit or debit card.