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Debit Fees Bill Gets Hearing

By Bill O'Neil

A San Antonio State Representative's push to keep debit card purchase surcharges out of Texas gets a hearing in front of the Senate Commitee on Business and Commerce.

Among those backing State Representative Jose Menendez' measure is Steve Scurlock with the Independent Bankers Association of Texas.

"We absolutely consider this to be a pro-consumer bill--especially for low income and younger Texans--as well as those who for whatever reason--opt not to use a credit card for their purchases" Scurlock told the committee. He also said the measure would be vital in protecting smaller banks and credit unions around the state. 

"Financial alliances between big box stores and the largest banks could steer consumers toward those particular banks and their payment devices by creating financial disincentives for those wishing to utilize debit cards of smaller community banks and credit unions" Scurlock said--though noting such an episode has not occured to this point in Texas. 

"This is cleary a premetive move" Scurlock said. 

Critics insist the measure would put unneccessary regulation in place on businesses--since there have been no recorded cases of a surcharge applied to a debit card purchase in Texas.   

Photo courtesy: ABC News

Filed Under :  
Topics : Business_Finance
Locations : Texas
People : Jose MenendezSteve Scurlock
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