Banks Are Lying About HB25-1282 - Here’s What They Don’t Want You to Know
Lately, a wave of misinformation - driven by the banking lobby - has flooded inboxes and airwaves. Their goal? To sink a straightforward, commonsense bill: HB25-1282 . Their ads claim the bill will hurt consumers, destabilize the payment system, and threaten access to credit. But here’s the truth: HB25-1282 simply prohibits credit card companies from charging swipe fees on sales tax and tips - money that doesn’t belong to the business in the first place. Let’s be clear: this bill doesn’t eliminate interchange fees. It doesn’t prevent customers from using credit or debit cards. It doesn’t force small businesses to change how they operate. What it does is stop Visa, Mastercard, and other payment networks from taking a percentage cut of taxes and gratuities - charges that go to the government or workers, not to the business. A quick clarification: if you’ve tipped a server with a credit card, the full tip still goes to the server. But the business pays a swipe fee on the entire amount - i...