A settlement agreement between businesses and credit card companies in January may leave Michigan shoppers feeling unsettled.
However, Michigan lawmakers are looking to close the loophole that would allow Michigan businesses to pass along credit card surcharges to its customers. Especially, when many consumers are not aware that this is or could be happening.
Currently, 10 states already have a ban in place and Michigan is hoping to join them under House Bill 4255. Debit card users are exempt from surcharges.
Until Michigan gets the ink on this bill, Michigan businesses need to offer full disclosure such as:
-Somewhere in the store or online, a notice must be visible that lets customers know about the additional fee.
-Receipts need to show a separate cost associated with the surcharge passed along to the customer.
-For online retailers, the surcharge notice must appear in the credit card acceptance section.
