Governor Schwarzenegger vetoes ban on debit card #swipefees


“I am concerned that this bill will shift the burden of paying interchange fees from the holders of debit cards to all consumers regardless of payment type,” Schwarzenegger, a Republican, wrote in his veto message. “Instead of charging a customer who chooses to use a debit card, businesses would be forced to increase their prices to all customers, regardless of payment type, to cover the interchange fee. The burden of paying these surcharges should fall on those who use debit cards and not on those who choose to pay with another form of payment.”

SB399 was written by Sen. Jenny Oropeza, D-Long Beach, who argued it would prevent businesses from advertising one price and then hiking the cost at the register.

READ ARTICLE via Governor vetoes ban on debit card fees.

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