Bill > A06541

This bill amends the New York General Business Law to protect small businesses and financial intermediaries from penalties related to credit card surcharge notice requirements. The bill first defines a "payment card network" as an entity that provides the infrastructure, services, and software for routing and processing debit and credit card transactions. It then prohibits payment card networks from assessing penalties against small businesses or financial intermediaries who fail to comply with certain notice requirements. Any contract clause that would impose such penalties is automatically declared void. The bill specifically references the definition of "small business" as outlined in section 131 of the economic development law, ensuring a standardized interpretation of what constitutes a small business. By preventing payment card networks from penalizing businesses for non-compliance, the bill aims to reduce financial burdens on smaller merchants and intermediaries. The legislation is set to take effect immediately upon enactment.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A6541