S.B. No. 2056 introduces new regulations concerning anticompetitive practices and required disclosures related to credit card transactions in Texas. The bill adds Chapter 604B to the Business & Commerce Code, which outlines definitions relevant to credit card transactions, including terms such as "assessment fee," "interchange fee," and "swipe fee." It establishes prohibitions against credit card issuers and payment card networks, such as fixing swipe fees, charging fees for disputed transactions without proper findings, and penalizing merchants for offering discounts for alternative payment methods. Additionally, credit card issuers are mandated to disclose swipe fees on monthly statements to cardholders.

The bill also empowers the Texas Attorney General to investigate violations and pursue civil penalties against offenders, with fines reaching up to $300,000 for individuals and up to $30 million for corporations, depending on their assets. The legislation specifies that it does not create a private cause of action and includes a severability clause to ensure that if any provision is deemed invalid, the remaining provisions remain effective. The compliance deadline for credit card issuers regarding the disclosure requirements is set for March 1, 2026, and the act is set to take effect on September 1, 2025.

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