SPONSOR: Owen
Under this bill, a debt collector, including a debt collection attorney or law firm, will be authorized to collect a payment transaction fee from a person, business or payor making a credit card or an electronic payment that does not exceed the lesser of $25.00 or 3% of the payment amount excluding the fee, provided certain disclosures are made when the transaction is complete, as explained in the bill. A sample form is included in the bill to achieve compliance.
Statutes affected: