CHAPTER 176
H.P. 1275 - L.D. 1835
Resolve, To Ensure That Consumers Are Informed of a Debit Card Hold at the Point of Sale
Sec. 1. Debit card hold notice requirements. Resolved: That persons, firms, partnerships, associations, corporations or limited liability companies may disclose the amount of a debit card hold in the form of a notice. A written notice may be provided directly to a customer or posted in clear view of a customer, so that the customer is able to see it prior to initiating a transaction. An oral or electronic notice may be provided instead of a posted notice, if it is given to the customer during the course of the transaction to permit the customer to cancel the transaction without incurring charges. If oral or written notice is provided, it must include, but is not limited to, a statement that indicates the preauthorization debit card hold policy of the merchant and alternatives to initiating a preauthorization debit card hold.
For the purpose of this resolve, "debit card hold" means a preauthorization hold for offline or online transactions for the future purchase of goods or services.
This section is repealed December 31, 2007; and be it further
Sec. 2. Consumer education regarding debit card holds. Resolved: That the Department of Professional and Financial Regulation, Bureau of Financial Institutions shall work with interested parties to develop a consumer awareness brochure that explains debit card holds. The bureau shall make the brochure available, at cost, to financial institutions and merchants. The Office of the Attorney General shall report on the number of consumer complaints received regarding debit card hold practices to the joint standing committee of the Legislature having jurisdiction over business, research and economic development matters by February 15, 2007.
Effective August 23, 2006.
| Revisor of Statutes Homepage | Subject Index | Search | 122nd Laws of Maine | Maine Legislature |
About the 2nd Regular & 2nd Special Session Laws Of Maine
