Bill

Bill > S4497


US S4497

Payment Choice Act of 2022


summary

Introduced
06/23/2022
In Committee
06/23/2022
Crossed Over
Passed
Dead
01/03/2023

Introduced Session

117th Congress

Bill Summary

A BILL To prohibit retail businesses from refusing cash payments, and for other purposes.

AI Summary

This bill, the Payment Choice Act of 2022, prohibits retail businesses from refusing cash payments for transactions under $2,000 made at physical locations. Businesses are also prohibited from charging cash-paying customers a higher price compared to non-cash customers. The bill outlines some exceptions, such as during a temporary system failure or when the business provides customers with a free means to convert cash into a prepaid card. The Secretary is required to issue rules regarding which larger bills businesses must accept. The bill also includes provisions for enforcement, such as civil penalties and the ability for individuals to seek legal action. Additionally, the bill requires federal agencies to submit annual reports on the geographic distribution of ATMs owned by insured depository institutions.

Committee Categories

Housing and Urban Affairs

Sponsors (2)

Last Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 06/23/2022)

bill text


bill summary

Loading...

bill summary

Loading...
Loading...