Episode Details

A new state law, Act 751, bans merchants from charging extra fees for debit card transactions—but it doesn’t eliminate the underlying swipe fees that banks and payment networks like Visa and Mastercard still collect. Instead of cutting costs at the source, the law forces small businesses to raise prices, which ironically increases their percentage fees to card companies. While this law gives regulators more teeth to enforce rules, critics argue it’s a band-aid solution that lets big financial institutions off the hook—and leaves small business owners footing the bill in disguise. With frustration mounting, some lawmakers are already eyeing next year’s legislative session to tackle the real problem head-on.

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