Connecticut Seal

General Assembly

 

Raised Bill No. 5296

February Session, 2016

 

LCO No. 1449

 

*01449_______BA_*

Referred to Committee on BANKING

 

Introduced by:

 

(BA)

 

AN ACT CONCERNING CREDIT AND DEBIT HOLDS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective October 1, 2016) No gas station or convenience store that accepts credit or debit cards for the retail sale of gasoline shall, without the knowledge and consent of the consumer, place or allow a third party to place a credit hold on purchases larger than the actual purchase amount without providing notice, and in no case shall the hold exceed twice the transaction amount or fifty dollars, whichever is greater. The person initiating the hold shall disclose the hold in conspicuous type and proximate to the point of payment prior to the consumer's purchase, including the dollar amount of the hold, if it is known.

This act shall take effect as follows and shall amend the following sections:

Section 1

October 1, 2016

New section

Statement of Purpose:

To restrict gas stations and convenience stores from placing unreasonable holds on the debit and credit card accounts of consumers without notice.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]