Bill Text: CT SB00196 | 2013 | General Assembly | Comm Sub

Connecticut Senate Bill 196 (Prior Session Legislation)

Bill Title: An Act Concerning Credit Blocks.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2013-04-12 - Referred by Senate to Committee on Banks [SB00196 Detail]

Download: Connecticut-2013-SB00196-Comm_Sub.html


General Assembly		*Committee Bill No. 196*
*January Session, 2013*		LCO No. 4404
		_____SB00196GL____031413____
Referred to Committee on GENERAL LAW
Introduced by:
(GL)

AN ACT CONCERNING CREDIT BLOCKS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective January 1, 2014) No person who accepts credit or debit cards for the retail transaction of business shall, without the knowledge and consent of the consumer, place or allow a third party to place a credit block on purchases larger than the actual purchase amount for goods or services being purchased by the consumer. For purposes of this section: (1) "Credit block" means an arrangement between a retailer and an issuer in which the issuer, at the request of a retailer, before the completion of a purchase, reserves a specified dollar amount of the customer's purchasing capacity for use in connection with a purchase initiated by the customer with the retailer, (2) "issuer" means the entity that issued the credit card or debit card or an entity that administers credit blocks on behalf of the issuer, and (3) "capacity" means a dollar amount of available credit in the case of a credit card, and a dollar amount of the account balance or overdraft capacity in the case of a debit card.