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Payment Choice Act of 2023
5/24/2024, 1:38 PM
Summary of Bill HR 4128
Bill 118 hr 4128, also known as the Payment Choice Act of 2023, 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 2023 aims to prevent businesses from discriminating against customers based on their choice of payment method. This means that businesses would not be able to charge additional fees or impose restrictions on customers who choose to pay with cash, check, or other non-electronic forms of payment.
Additionally, the bill seeks to ensure that consumers have access to a variety of payment options, including traditional methods like cash and checks, as well as newer technologies like mobile payments and digital wallets. This is intended to promote competition and innovation in the payment industry, ultimately benefiting consumers. Overall, the Payment Choice Act of 2023 is designed to protect consumers' rights and promote a fair and competitive marketplace for payment services. It is currently under review in Congress, where lawmakers will consider its potential impact and determine whether it should be passed into law.
The Payment Choice Act of 2023 aims to prevent businesses from discriminating against customers based on their choice of payment method. This means that businesses would not be able to charge additional fees or impose restrictions on customers who choose to pay with cash, check, or other non-electronic forms of payment.
Additionally, the bill seeks to ensure that consumers have access to a variety of payment options, including traditional methods like cash and checks, as well as newer technologies like mobile payments and digital wallets. This is intended to promote competition and innovation in the payment industry, ultimately benefiting consumers. Overall, the Payment Choice Act of 2023 is designed to protect consumers' rights and promote a fair and competitive marketplace for payment services. It is currently under review in Congress, where lawmakers will consider its potential impact and determine whether it should be passed into law.
Congressional Summary of HR 4128
Payment Choice Act of 2023
This bill requires retail businesses to accept cash as a form of payment for on-site sales of $500 or less, and it prohibits them from charging cash-paying customers a higher price compared to customers not paying with cash. Businesses covered by this bill 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, damages, and civil penalties.
Read the Full Bill
Current Status of Bill HR 4128
Bill HR 4128 is currently in the status of Bill Introduced since June 14, 2023. Bill HR 4128 was introduced during Congress 118 and was introduced to the House on June 14, 2023. Bill HR 4128's most recent activity was ASSUMING FIRST SPONSORSHIP - Mr. Rose asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 4128, a bill originally introduced by Representative Payne, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection. as of May 7, 2024
Bipartisan Support of Bill HR 4128
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
30Democrat Cosponsors
14Republican Cosponsors
16Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4128
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Civil actions and liability
- Consumer affairs
- Inflation and prices
- Retail and wholesale trades
Alternate Title(s) of Bill HR 4128
Payment Choice Act of 2023
To ensure that United States currency is treated as legal tender to be accepted as payment for purchases of goods and services at brick-and-mortar businesses throughout the United States, and for other purposes.
Payment Choice Act of 2023
Comments
Sponsors and Cosponsors of HR 4128
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