Payment Choice Act of 2021

Payment Choice Act of 2021

This bill requires retail businesses to accept cash as a form of payment for sales in amounts less than $2,000, and it prohibits them from charging cash-paying customers a higher price compared to customers not paying with cash. Such businesses are those engaged in the business of selling or offering goods or services at retail to the public that accept in-person payments at a physical location.

The bill provides for enforcement through preventative relief and civil penalties.

Bill 117 HR 4395, also known as the Payment Choice Act of 2021, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to protect consumers' right to choose their preferred method of payment when making purchases.

The Payment Choice Act of 2021 specifically targets businesses that try to restrict or discourage customers from using certain forms of payment, such as cash or checks. The bill aims to ensure that consumers have the option to pay with any form of legal tender, without facing any penalties or discrimination.

If passed, this legislation would prohibit businesses from refusing to accept cash as a form of payment, as well as from setting minimum purchase amounts for credit or debit card transactions. The bill also seeks to prevent businesses from charging additional fees for customers who choose to pay with cash. Overall, the Payment Choice Act of 2021 is designed to promote financial inclusion and protect consumers' rights to choose how they pay for goods and services. It is currently under review in Congress, where lawmakers will debate its potential impact and consider whether to pass it into law.