ATLANTA - Georgia legislators introduced a bill last week that seeks to curb "abusive practices" by credit card companies, a move that received public support by several associations, including:

• Georgia Association of Convenience Stores (GACS)
• Georgia Food Industry Association (GFIA)
• Georgia Oilmen??s Association (GOA)
• Georgia Retail Association (GRA)
• Atlanta Retailer??s Association (ARA)
• Georgia Alcohol Dealer??s Association (GADA)

House Bill 1456 received bipartisan support and takes specific aim at interchange fees, a measure (if approved) that "will bring much-needed restraint to an out-of-control industry," said GACS Chairman of the Board Rob Patterson.

The bill also seeks to address the following:

• Prohibit card companies from centrally fixing interchange fees.
• Prohibit card companies from penalizing retailers for pricing delays.
• End requirements for retailers to accept every type of card that the card companies issue.
• Allow retailers to set minimum and maximum transaction amounts without risk of penalty.
• Allow retailers to determine which of their locations accept cards without risk of penalty.

"The consumer-friendly legislation introduced this week addresses unfair practices by the nation??s largest financial institutions that cost Americans $48 billion in credit and debit card 'swipe?? fees," said GFIA President Kathy Kuzava.

"This bill would eliminate the anti-competitive rules Visa and MasterCard impose on retailers, increase transparency in the payment card industry and allow competitive markets to help keep these fees down," added GOA President Roger Lane.

"The credit card companies are notorious for abuses against individual cardholders, and they treat business owners the same way. This legislation will bring much-needed restraint to an out-of-control industry," said GRA President John Heavener.