* The setup…
A proposal before the state legislature could keep shoppers from having to pay more when using credit cards. Chris Slaby reports.
The plan would prohibit Illinois retailers from adding an extra fee to purchases made with credit cards. It comes after a federal settlement gave businesses the go-ahead to charge up to four-percent extra on credit card transactions, unless states prohibit them from doing so.
So far, ten states have banned the surcharge. […]
David Vite is president of the Illinois Retail Merchants Association. He says Illinois consumers have nothing to worry about, because Illinois stores will not implement the surcharge.
VITE: “Their interest is in lowering prices to their customer, not increasing costs to the customer.”
Consumer groups, though, say they’re concerned retailers will wait for things to cool down before implementing the fees.
* The Question: Despite the assurances from IRMA, should Illinois ban retailer credit card surcharges? Take the poll and then explain your answer in comments, please.