TRENTON – A consumer advocacy bill sponsored by Senators Jim Whelan, Bob Gordon and Nia H. Gill that would prohibit retailers from passing on credit card transaction fees to customers was approved today by the Senate Commerce Committee. The bill is in response to a recent nationwide change to Visa and MasterCard regulations that allows retailers to impose additional surcharges at the point of sale.
“As families across the state are already struggling to make ends meet in this tough economy, the last thing they need is another fee added at the check out line,” said Senator Whelan, D-Atlantic. “Credit card processing fees of up to four percent — on top of the already high cost of living in the Garden State — may stretch many New Jersey families beyond their budgets. While many retailers are saying that they are not planning to pass these transaction fees on to their customers, this bill will ensure that consumers are protected in the future.”