WA People
BILL · 2007–08 SESSION

SB 5885: Interchange fees

Protecting consumers by prohibiting financial institutions from charging interchange fees on the state sales tax portion of a retail sale transaction.

Summary

  • Interchange fees are defined as the fee a merchant's financial institution pays to a cardholder's financial institution when cardholder uses a credit card or a debit card as payment during a retail transaction. Financial institutions may not charge interchange fees on the portion of a retail transaction that is paid as state sales tax.

From the Senate Bill Report (SB 5885), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedFeb 5, 2007
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Ken Jacobsen (D-46)
Introduced
February 5, 2007 in the Senate
Last action
January 14, 2008

AN ACT Relating to protecting consumers by prohibiting interchange fees from being charged on the state sales tax portion of a retail sale transaction;

Sponsors

Prime sponsor: Ken Jacobsen (D-46)

1 co-sponsor (1 Democrat, 0 Republicans)

Brian Weinstein D-41

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. First reading, referred to Financial Institutions & Insurance.

SB 5885 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

Report wrong or missing information on this page