Westchester County Executive George Latimer, New York State Assemblywoman Amy Paulin and County Director of Consumer Protection Jim Maisano are working together to ensure that residents are well-informed about a new law aimed at promoting transparency in credit card transactions. Effective Feb.11, this new state law mandates that merchants in New York state must provide clear and conspicuous disclosure of credit card surcharges to consumers.
The law requires full disclosure up-front of fees charged by businesses for the use of credit cards to pay for purchases and prohibits businesses from withholding disclosure until after the purchase has been paid for. The new law also prevents businesses from charging a higher fee than what they are charged by the credit card companies.
“Transparent pricing is essential for consumers to make informed decisions,” Latimer said. “This new law will empower Westchester residents by ensuring they have clear visibility into any credit card surcharges they may incur and I thank my colleague in government Assemblywoman Paulin for her efforts on its passage and Governor Hochul for signing it into law.”
Paulin explained that the new law prevents hidden surcharges by requiring sellers to clearly post the price of a credit card surcharge.
“Credit card surcharges now have to be disclosed clearly so that customers are fully aware of them upfront and not just when they go to pay,” Paulin said. “The new law also prevents businesses from charging a higher fee than what they are charged by the credit card companies. This legislation is ultimately about transparency, fairness and preventing consumers from being misled when making purchases using credits cards.”
Businesses are required to clearly display the total price of a product inclusive of any surcharges before checkout.
“This law reinforces the principles of fairness and transparency in commercial transactions,” Maisano said. “We are committed to ensuring that consumers are protected from deceptive practices, and this legislation is a significant step forward in achieving that goal.”
The law allows businesses the option of clearly displaying both the credit card and the cash price, listing the higher credit card price and advertising a discount for cash purchases or using the same price for both cash and credit card purchases.
