Video & Transcript Research : 'consumer transactions'
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CA
California 2025-2026 Regular Session
Assembly Banking and Finance Committee Apr 21st, 2025
Transcript Highlights:
- to the consumer.
- to the consumer.
- transaction?"
- , as well as supporters California Low Income Consumer Coalition and Consumer Reports.
- , as well as supporters California Low Income Consumer Coalition and Consumer Reports.
Summary:
The Assembly Banking and Finance Committee heard several bills, beginning with AB 407, which would expand the California Pollution Control Financing Authority. The author said the measure would increase flexibility and access to resources, and the bill was approved 7-0 and sent to the Committee on Local Government. The committee also adopted the consent calendar, which included AB 76, by a 7-0 vote.
A lengthy portion of the meeting focused on AB 1065, which would prohibit swipe fees on the sales tax portion of credit card transactions. Supporters, including small business owners, restaurant and grocery representatives, and a payments-policy expert, argued the bill would reduce costs for merchants and consumers and rein in dominant card networks. Opponents, including banks, credit unions, and payment industry groups, argued the bill is likely preempted by federal law, would be difficult to implement, and could disproportionately affect community banks and credit unions. After extensive questioning about preemption, fraud, implementation, and consumer impacts, the committee rejected the bill on a 6-0 vote, but then granted reconsideration by a 7-1 vote.
The committee then heard AB 1365, which would create the Cal Account Program, a zero-fee, zero-penalty state banking account for unbanked and underbanked Californians. Supporters said the program would help low-income households, survivors of abuse, and others facing barriers to traditional banking, while opponents from community banks and credit unions argued existing low-cost accounts and the Bank On program already address the need and raised concerns about cost, feasibility, and duplication. The bill advanced on a 6-0 vote and later received enough votes on the reopened roll to move forward to the Committee on Labor and Employment.
The committee also approved AB 1052, which would create a legal framework for digital assets and address unclaimed digital property and restrictions on public officials issuing or promoting digital assets, and AB 1180, which would create a pilot program for paying state fees with digital financial assets and require a report on broader adoption. Both bills passed with broad support after brief testimony and discussion. Final roll calls later confirmed AB 1052 and AB 1180, along with AB 407 and AB 1365, were moved out of committee.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Financial Services Jun 21st, 2026 at 10:30 am
Joint Committee on Financial Services
Transcript Highlights:
- affected by fraudulent transactions.
- It puts limits on the daily transaction amounts, requires disclosures for the consumers, requires that
- There needs to be a transactional pause on all transactions.
- We want consumers to understand what they're paying for the transaction, but we feel the free market
- Daily transaction limits: Imposing daily transaction limits helps to avoid potential risks associated
Summary:
The committee heard testimony on several financial services bills, with the main focus on cryptocurrency kiosk regulation, financial literacy, and earned wage access. Legislators and witnesses described widespread crypto-related scams targeting older adults, often involving impersonation, urgency, spoofed phone numbers, and rapid transfers through kiosks that are difficult to trace or recover. Supporters of the kiosk bills said Massachusetts needs licensing, registration, transaction limits, warning notices, receipts, refund protections, and other safeguards; some also urged a “pause” or hold on transactions to give victims time to reconsider and allow law enforcement to intervene. The Attorney General’s office, AARP, local law enforcement, and several prosecutors and sheriffs backed the consumer-protection approach, while Bitcoin Depot supported a narrower regulatory framework but opposed low fee caps and strict daily limits, arguing they would function like a ban and reduce legitimate use.
Witnesses from Waltham police, Middlesex and Essex County law enforcement, and the AG’s office said crypto scams are growing quickly, losses are often unrecoverable once funds move, and current tools are limited. They described cases involving elderly victims losing thousands of dollars, and said warnings alone are not enough because scammers keep victims on the phone and guide them through the process. Some witnesses said a temporary hold or refund mechanism has worked in at least one case, while others emphasized that transaction limits and visible disclosures could reduce harm even if they do not stop fraud entirely. The AG’s office also said it would submit written opposition to separate earned wage advance legislation, while DailyPay testified in support of that bill, saying earned wage access helps workers bridge short-term gaps without debt or credit reporting.
The committee also heard support for mandatory financial literacy education from Representative Jim Hawkins, who said high school students need instruction on credit, debt, and inflation before they enter adulthood. In addition, the committee took testimony on litigation financing bills from insurance industry representatives, who argued for disclosure and regulation of predatory litigation lending and warned about foreign interference and reduced plaintiff recoveries. No votes or final actions were taken during the hearing; members asked questions throughout, and the chair noted the need to move testimony along because of time constraints.
FL
Transcript Highlights:
- But just from a consumer-adoption standpoint, we found that the consumer would like to have their gold
- there to protect consumers.
- So when you have consumers who are wanting to transact in gold, maybe to pay fees or taxes to the state
- So when you have consumers who are wanting to transact in gold, maybe to pay fees or taxes to the state
- to transact.
Summary:
The committee first took up SB 794, as amended by a late-filed strike-all, which would require a human being to make insurance claim denial decisions and prohibit artificial intelligence from being the sole basis for a denial. The sponsor said the bill was intended to preserve human oversight while allowing innovation in claims processing. Public testimony included support from the Florida Insurance Consumer Advocate and the Florida Medical Association, along with one speaker urging additional protections for homeowners. The committee adopted the strike-all and reported SB 794 favorably with committee substitutes.
Members then heard SB 134, which removes the $500 threshold on the sales tax exemption for bullion, making sales of gold, silver, and platinum bullion fully exempt and eliminating certain dealer documentation requirements. Supporters argued the change would reduce a regressive tax and help consumers preserve savings; the sponsor estimated a revenue impact of about $300,000. The bill was reported favorably. The committee also adopted a strike-all on SB 888, which directs the Office of Insurance Regulation to create a more consumer-friendly homeowners insurance website with premium comparison information, market data, rate filing access, and educational resources. The sponsor and Leader Boyd said the goal was to improve transparency and help consumers navigate a stabilizing market. SB 888 was reported favorably with committee substitutes.
The final bill heard was SB 1578, covering mammograms and supplemental breast cancer screenings. The sponsor said it would expand coverage requirements in ACA plans and private insurance policies, including annual mammograms for women ages 40 to 50 and supplemental screening coverage, while noting Medicaid already provides these services. The Florida Insurance Consumer Advocate waived in support, and the bill was reported favorably. After the bills, the committee held a lengthy panel discussion on gold and silver as legal tender and transactional money, with testimony from officials from Utah and Florida, industry representatives, and advocacy groups. Panelists discussed constitutional authority, consumer protections, depository oversight, taxation issues, and possible transactional platforms for precious metals. No further action was taken after the discussion, and the committee adjourned.
FL
Florida 2025 Regular Session
Banking and Insurance Mar 25th, 2025
Transcript Highlights:
- But just from a consumer adoption standpoint, we found that the consumer would like to have the gold
- are that you would use there to protect consumers.
- So when you have consumers who are wanting to transact and gold, maybe to pay fees or taxes to the state
- That with questions the transaction.
- Ali, I understand how you could have a transaction in gold just like you can have a transaction in Crypto
MA
Massachusetts 2025-2026 Regular Session
Future of Payments and Sales Transactions by Credit Card and the Impacts for Small Businesses Jun 21st, 2026 at 11:00 am
Transcript Highlights:
- Every time a consumer taps a card to a local business, the consumer believes three things: their information
- Just as eBay brokers the transaction between a seller and a buyer, just as Lyft or Uber brokers the transaction
- Is there still not enough money in a transaction where you can exclude 6.25% from a 2% transaction fee
- It's what feeds the consumer economy.
- It's what feeds the consumer economy.
Summary:
The Special Commission on the future of payments and sales transactions by credit card heard extensive testimony from credit union, banking, retail, restaurant, and payments-industry representatives about proposals to limit interchange fees, especially on the tax and tip portions of transactions. Several witnesses opposed state-level restrictions, arguing they would create a patchwork of rules, burden state-chartered institutions, raise compliance complexity, and ultimately reduce resources for fraud prevention, cybersecurity, rewards, and access to credit. Others, including retail and merchant advocates, said swipe fees are a significant and growing cost for small businesses and that states should consider reforms such as limiting fees on taxes and tips, allowing surcharging, improving transparency in merchant contracts, and studying collection costs more closely.
Witnesses also discussed recent legal and regulatory developments, including Illinois’s interchange-fee law, OCC and NCUA interim rules, and the ongoing Visa/Mastercard antitrust settlement. Industry representatives said the Illinois law has been delayed and is likely preempted for most transactions, while merchant advocates argued the state efforts and court rulings show that networks and banks do not set fees competitively. The proposed antitrust settlement was described by some as a meaningful but limited merchant victory, with temporary fee reductions and expanded surcharge/steering rights, while others said it still falls short of structural reform.
The commission members pressed witnesses on the practical effects of fees, the cost of cash, whether merchants can pass costs through, and whether small businesses are actually seeing benefits from the current system. Members repeatedly emphasized the need for a fair middle ground that protects both small businesses and the payment system. No substantive votes or policy actions were taken beyond accepting testimony, and the meeting ended with adjournment after all scheduled witnesses had spoken.
KY
Kentucky 2026 Regular Session
Senate Standing Committee on Banking and Insurance. (2-24-26)
Banking & Insurance
Transcript Highlights:
- <00:02:28.400>
to points that allows the consumers to points that allows the consumers to - So Senate Bill 157 will ensure consumer So Senate Bill 157 will ensure consumer protections<00:02
- c> I'll transaction transaction cap, which I'll transaction transaction cap, which I'll talk<00:10
- . transactions. transactions.
- transaction limit for returning users. transaction limit for returning users.
Keywords:
Meeting Start 00:00
Call to Order and Roll Call 00:01
Discussion SB 157 00:23
Vote SB 157 05:22
Discussion SB 189 05:57
Vote SB 189 26:49, 958, all
Summary:
The committee first took up Senate Bill 157, which would align Kentucky’s mortgage loan fee rules with federal standards by exempting certain first and second mortgages from the state’s total net income cap when they meet federal points-and-fees thresholds. The sponsor and Rocket Mortgage testified that the bill would make it easier for borrowers to buy down mortgage interest rates with discount points, helping affordability without changing borrower costs, while preserving the existing 4% cap for loans outside the federal standard. Members discussed how rate buydowns work in practice, and the bill passed with a favorable expression after a roll call vote.
The committee then heard Senate Bill 189, as amended by a committee substitute, which would create a licensing and regulatory framework for virtual currency kiosks, or crypto ATMs, in Kentucky. The sponsor described widespread scam losses tied to these kiosks, especially among older adults, and said the bill would add consumer protections such as licensing, financial safeguards, transaction limits, refund or hold requirements, disclosures, receipts, and enforcement authority for the Department of Financial Institutions. He also said the substitute was based on other states’ models and that further changes might be needed, including possible floor amendments.
AARP Kentucky testified in support of regulating crypto kiosks but said the committee substitute weakened consumer protections and urged stronger safeguards, including lower transaction limits, fee caps, identity verification, receipts, and scam warnings. AARP representatives cited data on scam complaints and losses in Kentucky and nationally, and said the point of transfer is the best place to prevent harm. Committee members generally agreed the issue was consumer protection, but one senator cautioned against overregulating personal financial choices and noted that scams exist in many forms. The discussion ended with acknowledgment that the bill would continue to be refined, including in coordination with the House and stakeholder groups.
CA
California 2025-2026 Regular Session
Assembly Banking and Finance Committee Apr 21st, 2025
Banking and Finance
Transcript Highlights:
- Or more of the transaction amount.
- to the consumer.
- You're saying if a transaction is fraudulent, but there was a tax on the transaction, and then if it
- for not saving consumers that much.
- well as supporters, California Low-Income Consumer Coalition and Consumer Reports.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Financial Services Jun 21st, 2026 at 10:30 am
Joint Committee on Financial Services
Transcript Highlights:
- This is consumer protection.
- Debit transactions are limited by federal law and how much each transaction costs.
- Transaction speeds are double in an electronic transaction compared to a cash transaction.
- We see consumer spending.
- transaction.
Summary:
The Joint Committee on Financial Services heard testimony on several bills focused on financial security, banking regulation, and payment-card fees. Treasurer Deborah Goldberg supported the Massachusetts baby bonds proposal (H. 48) and also endorsed bills on matched savings (H. 1158/S. 737) and retirement planning/Secure Choice (H. 1143/S. 722), arguing these measures would help address wealth inequality, build assets, and improve retirement readiness. Supporters of baby bonds included policy experts and health advocates from Children’s Health Watch and Boston Medical Center, who said early-life asset building could improve long-term economic and health outcomes for children in low-income families. AARP also urged passage of the retirement planning bill, citing the large share of private-sector workers without access to an employer retirement plan. Representative Donato testified for H. 1143, describing it as a voluntary retirement-savings opportunity for workers at small employers.
The committee also heard testimony on H. 3933, concerning the Massachusetts Credit Union Share Insurance Corporation, from former Bank Commissioner Mike Hanson, who defended the state’s full deposit insurance system for credit unions and savings institutions as a longstanding consumer-protection model. The Massachusetts Bankers Association raised concerns about the bill’s technical provisions and broader credit union/bank competitive issues, while the Cooperative Credit Union Association supported related legislation allowing modest compensation for credit union directors (S. 821/H. 1338) and flexibility for state financial institutions to grow through partnerships (S. 723). Bankers opposed those credit union bills, arguing they would upset a level playing field and blur long-standing distinctions between banks and credit unions.
A major portion of the hearing focused on H. 1259/S. 688, which would prohibit card interchange fees on the tax and gratuity portions of restaurant transactions. Restaurant owners and the Massachusetts Restaurant Association testified in favor, saying the fees are a significant and growing expense, especially as most customers now pay by card; they argued the bills would save restaurants money without affecting state revenue. Credit union, banking, and payments-industry representatives opposed the bills, saying interchange helps fund fraud protection and payment infrastructure, that the proposal would create compliance burdens and likely litigation, and that it would mainly affect Massachusetts-chartered institutions while national banks could be preempted. Committee members noted that a commission on payment-card fees is being established and said the issue would be studied further. The hearing also included support for a separate bill on virtual credit cards for dental providers, with dentists saying automatic virtual-card payments impose hidden processing fees and fraud risks.
MN
Minnesota 2025-2026 Regular Session
Banning cryptocurrency kiosks 2/26/26
Minnesota House Floor Meeting
Transcript Highlights:
- identity verification or transaction identity verification or transaction holding<00:10:40.079><
- employee salaries for consumer employee salaries for consumer protection.<00:14:54.399>
We <00:17:16.640>- ,
support worked to educate consumers, support worked to educate consumers, - safer transactions.
- safer transactions.
Summary:
The committee heard House File 3642, as amended by the DE1, which would prohibit virtual currency kiosks in Minnesota. The author, Chair Kaggel, said the bill is intended to stop scammers from using crypto kiosks to defraud vulnerable people, especially older adults, because the transactions are often irreversible and hard to trace. Representative Perryman spoke in support, describing local fraud cases and saying the issue had come to her attention through St. Cloud residents and police. The bill was laid over for further work with the Department of Commerce and other interested members.
Testimony from law enforcement and advocates strongly supported the ban. A St. Cloud police sergeant said the problem is statewide and described a case in which a 78-year-old woman lost $80,000 after being directed to a kiosk. A Woodbury detective said current safeguards, including warnings, limits, and refund provisions, have not stopped weekly victimization and that scammers coach victims to bypass protections. An AARP Minnesota volunteer said kiosks are a preferred vehicle for scammers because they move stolen funds quickly and are especially harmful to older adults, and he noted that the 2024 consumer protections have not been enough.
The Department of Commerce also supported the bill, saying crypto kiosks are a growing fraud vector and citing 120 complaints over three years, nearly $1 million in reported losses, and 70 cases with $540,000 in losses already in 2025. The department said many victims do not report losses, so the true amount is likely higher. In contrast, Coinflip’s general counsel opposed a ban and argued that fraud should be addressed through stronger regulation, refunds, blockchain analytics, and customer-service requirements rather than prohibiting a legal product. He said scams would continue through other channels if kiosks were banned. In discussion, members asked about the number of kiosks, how long they have been operating in Minnesota, and the scale of losses; the department said there are about 350 licensed kiosks operated by 8 to 10 operators, though the total number may be higher.
OK
Oklahoma 2026 Regular Session
Commerce and Economic Development Oversight Feb 24th, 2026 at 10:30 am
Commerce & Economic Development Oversight
Bills:
HB3147, HB4453, HB3369, HB3660, HB3498, HB3260, HB3081, HB3127, HB3673, HB2293, HB3545, HB3546, HB2035
Keywords:
special license plates, Route 66, Oklahoma, funding, community support, health care, transparency, primary care, cost analysis, insurance, all payer claims database, spending benchmarks, HB3369, food truck, food truck fire suppression, mobile food establishment, mobile food preparation vehicle, mobile food vendor, automatic fire extinguishing system, fire suppression
TX
Transcript Highlights:
- oriented. transactions.
- , it's not clearly defined, merely referencing transactions that involve a material.
- That is a single transaction, but it also could be a series of transactions.
- So for a lot of these independent doctors, consumer price index inflation.
- So the material change transactions that. lead to consolidation and concentration are often elusive to
Bills:
HB5141, HB4638, HB2264, HB2035, HB4813, HB4408, HB2684, HB1621, HB2300, HB216, HB3829, HB4466, HB1747, HB2284, HB3614, HB2587, HB3219, HB3318, HB5147, HB4014, HB216
Keywords:
lease, state property, public purpose, Travis County, Health and Human Services, pharmaceutical initiative, drug distribution, healthcare services, generic drugs, advanced pharmaceuticals, cost savings, mental health, patient discharge, medical records, health care professionals, substance use, family involvement, chemical dependency, treatment facilities, minor admissions
NM
New Mexico 2025 Regular Session
House - Commerce and Economic Development Feb 3rd, 2025
House Commerce & Economic Development Committee
Transcript Highlights:
- The second model is direct to consumer.
- What should we cap these providers at per transaction?
- As a direct-to-consumer provider...
- for each choice they make during an EWA transaction. transaction, then a truly free advance option can
- remain on the market and available to consumers.
NH
Transcript Highlights:
- Furthermore, due to the high fees associated with transactions made through crypto ATMs, legitimate consumers
- We are in support of establishing consumer protections for digital asset transaction kiosks, commonly
- It's anti-consumer because you're giving consumers fewer choices.
- transaction.
- <01:55:18.000>
transaction <01:55:18.639>in <01:55:18.880>the transaction transaction
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Consumer Protection and Professional Licensure Jun 21st, 2026 at 01:00 pm
Joint Committee on Consumer Protection and Professional Licensure
Transcript Highlights:
- Welcome to the Joint Committee on Consumer Protection and Professional Licensure.
- It's caused confusion for consumers It's caused confusion for consumers.
- If the transaction total was $10.53, then it would be rounded up and the consumer would pay $10.55.
- And the consumer would pay $10.55.
- This bill is a common-sense update and supports both business and consumers.
Summary:
The Joint Committee on Consumer Protection and Professional Licensure held a public hearing on two bills: House Bill 5138, concerning consumer protections for cash transactions amid penny scarcity, and House Bill 5036, concerning consumer information related to tariffs. Chairs Tackey Chan and Senator Payano opened the hearing, noted the committee’s one-year anniversary, reviewed procedures, and explained that the Senate and House were both in session, with Senator Payano prepared to take over if needed. The committee heard from several industry and legislative witnesses, and the hearing was eventually closed by motion and voice vote.
Supporters of H. 5138, including Senator Paul Feeney, the Massachusetts Package Stores Association, the Massachusetts Restaurant Association, and the New England Convenience Store and Energy Marketers Association, said the bill would create a clear statewide rounding standard for cash transactions if pennies become scarce. They argued it would improve operational efficiency, reduce confusion, provide legal clarity, and protect businesses and consumers by requiring notice and limiting the rule to cash payments. The Retailers Association of Massachusetts also supported the concept but suggested amendments, including changing mandatory rounding language to allow flexibility and clarifying that taxes and fees would not be affected.
Witnesses were largely opposed to H. 5036. The Retailers Association, the New England Convenience Store and Energy Marketers Association, and the Massachusetts State Auto Dealers Association said tariff-related shelf or price disclosures would be difficult or impossible to implement because tariff costs change frequently and are hard to trace through complex supply chains. Auto dealers emphasized the challenge of calculating tariff impacts across thousands of vehicle parts and models, while retailers said the proposal would add burdens and could increase costs. No votes on the bills were taken during the hearing; the only formal action was adjournment of the hearing after testimony concluded.
HI
Transcript Highlights:
- So, he goes into his wallet, he hits send, it triggers a transaction, and that transaction needs to be
- transaction, and that transaction<00:18:28.320>
needs <00:18:28.559>to <00:18:28.720> - like Bitcoin verified their transactions like Bitcoin verified their transactions.<00:19:11.520>
- single transaction, every single swipe. single transaction, every single swipe.
- because uh who wants to pay transaction because uh who wants to pay transaction fees?
Summary:
The Hawaii State Senate Committee on Commerce and Consumer Protection held an informational briefing on digital assets, blockchain, and related regulatory developments. Chair Jarrett Keohoko said the committee was focusing on national and state policy issues around digital assets, while leaving the separate issue of Bitcoin kiosks and fraud to the House Consumer Protection Committee, which had already noticed a similar briefing. No public testimony was taken; the session was for informational updates and member questions.
Representatives from the Aptos Foundation, including JC Yun and Michael Cheng, gave a detailed presentation on blockchain basics and Aptos’s technology. They described blockchain as a tamper-resistant digital ledger, explained proof-of-work and proof-of-stake systems, and argued that proof-of-stake networks are faster, cheaper, and more environmentally friendly. They also emphasized smart contracts and potential uses beyond speculation, such as car titles, college transcripts, collectibles, digital IDs, real estate, and other tokenized assets.
The presenters highlighted Aptos’s Hawaii connections and said the technology could help local residents and businesses participate in the digital economy. They cited adoption statistics, including billions of transactions on Aptos, tokenized money market funds from major financial firms, micro-lending applications, decentralized cloud infrastructure, and the rapid growth of stablecoins. They acknowledged concerns about scams and consumer protection, but argued that the answer is stronger regulation and education rather than avoiding the technology altogether.
VT
Transcript Highlights:
- These provisions are retained in order to protect consumers who have engaged in or may engage in transactions
- <00:14:16.880>
The consumers of over $3 million. The consumers of over $3 million. - these types of transactions. these types of transactions.
- >
transactions. - The key definitions are factoring transactions and sale-based financing transactions.
Summary:
The House opened with a devotional reading by Theo Novak, a student and Vermont Poetry Out Loud finalist, followed by several announcements, including a welcome for the guest speaker and a reminder about a freshman legislator gathering and the day’s corporate cup road closures. The House then postponed action for one legislative day on Senate Bill 208, relating to law enforcement identification; Senate Bill 212, relating to portable water supply and wastewater system connections; and House Bill 639, relating to genetic data privacy.
The main floor action centered on House Bill 648, banking, insurance, and securities. The Commerce and Economic Development Committee presented Senate amendments and its own further amendments, including clarifications to consumer reinvestment reporting and a proposal to extend and then effectively end the moratorium on new cryptocurrency kiosks in Vermont. The committee described extensive testimony and data on crypto kiosk fraud, money laundering, and consumer losses, and also added a new licensing framework for merchant cash advance providers. Ways and Means reported the fiscal impact would be very small. After a brief question about the $1 million exemption threshold for commercial financing, the House concurred in the Senate proposal of amendment with further amendment thereto.
The House also passed Senate Bill 243, distributing funds to the Vermont Language Justice Project, in concurrence with proposal of amendment. It then took up Senate Bill 198, regulating tobacco products and tobacco substitutes. The Commerce and Economic Development Committee described updates to the definition of tobacco substitutes, creation of a wholesale licensing system under the Department of Liquor and Lottery, tighter controls on online sales, and bans on deceptive products that resemble school supplies, food, smartphones, inhalers, or video games. The committee heard testimony from health, enforcement, industry, and advocacy witnesses and voted 11-0 in favor. Human Services then proposed a strike-all amendment to the committee report, with further consideration to continue.
AL
Alabama 2026 Regular Session
Alabama House Ways and Means Education Committee Apr 1st, 2026
Ways and Means Education
Transcript Highlights:
- The consumer. >> Yes. Okay.
- We don't know that as a consumer.
- The consumer. >> Yes. Okay.
- We don't know that as a consumer.
- The The consumer. Yes. to clarify that? The The consumer. Yes.
NH
New Hampshire 2025 Regular Session
Commission to Study Stable Tokens (12/10/2025)
Transcript Highlights:
- of that dollar on chain to transact of that dollar on chain to transact with.<00:20:51.840>
So - component of the global transaction component of the global transaction volume<00:26:22.080>
- own payments, our own uh transactions. own payments, our own uh transactions.
- . consumer. consumer.
- >
transactions <01:37:20.800>that over 71 billion transactions that over 71 billion transactions
Summary:
The commission met with a quorum, approved the agenda, and approved the November 12 minutes after a motion, second, and unanimous voice/online consent. The chair said the meeting would include two presentations—one from Noah Herman of Fortress Global and one from John Kicko and team from Hedera—followed by discussion of the commission’s next steps and public comment. The chair also noted he was still seeking a clerk for note-taking.
Herman’s presentation focused on stablecoins, blockchain use cases, and operational considerations for states and other institutions. He described Fortress as an enterprise crypto-wallet and treasury platform serving corporates, governments, and nonprofits, and used examples such as Save the Children and a large global commodities firm to illustrate custody and treasury management on blockchain rails. He said stablecoins are designed to maintain a U.S. dollar peg, are increasingly backed by treasuries and subject to greater transparency, and are being adopted by major firms and payment companies because they can improve speed, reduce cost, and simplify payments. He also highlighted market growth, including claims that stablecoins now represent a significant share of on-chain activity and are a major holder of U.S. Treasuries.
He identified custody as a key issue for state and institutional use, outlining qualified custody, managed custody, and self-custody models. He said the main practical challenge for the commodities client was moving funds safely and quickly across global time zones and that blockchain rails could solve problems that traditional banking rails could not. He framed the broader trend as one of accelerating institutional adoption, citing recent acquisitions and product launches by Visa, Stripe, Citi, and PayPal as evidence that stablecoin infrastructure is becoming mainstream.
FL
Florida 2025 Regular Session
March 20, 2025 - 02:00 PM
Transcript Highlights:
- I'm thinking, is it then going to cost the consumer to cover the cost of the transaction?
- I'm thinking, is it then going to cost the consumer to cover the cost of the transaction is up to the
- consumer?
- Who calls the consumer and tells the consumer, by the way, we've finally figured out the insurance company
- Who calls the consumer and tells the consumer, by the way, we've finally figured out the insurance company
Summary:
The committee met to hear five banking and insurance-related bills. HB 1549, an Office of Financial Regulation agency bill to help more efficiently regulate financial institutions, was amended to match Senate companion language and then passed unanimously. HB 1231 would extend physician payment and prior-authorization protections similar to a prior dental law, including limits on virtual credit card payments as the sole payment method; physicians and medical groups supported it as a way to reduce fees and retroactive denials, while insurers were not heard in opposition, and the bill passed unanimously.
The committee then heard HB 999, which would make gold and silver legal tender and allow transactions in bullion through electronic debit mechanisms. The sponsor and several proponents framed it as an inflation hedge and economic freedom measure, while questions focused on definitions, transaction costs, and vendor participation. The bill passed on a mostly party-line vote, with one member voting no. The committee also approved HM 4363, a memorial urging Congress to establish a sovereign wealth fund; the sponsor described it as a way to steward national wealth, and the memorial passed with one dissenting vote.
Finally, the committee took up HB 1551, which would create a prevailing-party attorney fee framework in insurance contract disputes. The sponsor argued it would restore balance, deter meritless litigation, and help consumers with valid claims recover fees, while insurers, business groups, and defense attorneys warned it would revive one-way fee shifting, increase litigation, and raise premiums. Consumer advocates and some members supported it as necessary to give policyholders meaningful recourse. After debate, the bill passed favorably, with one member voting no.
HI
Hawaii 2025 Regular Session
CPC Info Briefing - Wed Dec 3, 2025 @ 10:00 AM HST
Hawaii House Floor Meeting
Transcript Highlights:
- , refunds, live consumer, uh, transactions, refunds, live consumer, uh, um, operators, a number that
- And then we file currency transaction reports for transactions over $10,000, just like banks do.
- was performed as well as the timing of your transaction that you performed the transaction.
- Consumer Affairs.
- Consumer Protection. Consumer Protection.
Summary:
The committee held an informational briefing on fraud in the community, with presenters from ARP, CoinFlip, HPD, the Hawaii Bankers Association, DCCA’s Office of Consumer Protection, and the Department of Law Enforcement. The chair described widespread scams targeting kupuna and other residents, including impersonation of grandchildren, lottery/inheritance schemes, romance scams, online shopping fraud, investment scams, and tech-support scams. Members emphasized the emotional manipulation used by scammers, the difficulty of getting victims to report losses, and the need to educate the public on warning signs and available resources.
ARP said scams are an epidemic and highlighted national data showing major losses among older adults, including $4.8 billion lost by people age 60 and over in 2024. ARP focused especially on cryptocurrency kiosks as a growing scam channel in Hawaii, citing 64 complaints totaling $922,000 in 2024 and noting that complaints nearly doubled from the prior year. ARP urged stronger safeguards such as limits on transactions, refunds, live customer support, and a law-enforcement contact for operators, and said its Fraud Watch Network can help victims freeze credit, identify next steps, and track current scams. The chair said he intends to introduce legislation to lower and ultimately eliminate the amount of Bitcoin that can be purchased through ATMs.
CoinFlip said it supports consumer-protection regulation and described its compliance practices, including scam warning screens, anti-money-laundering controls, blockchain analytics, wallet pinning, transaction monitoring, and cooperation with law enforcement. The company said it is registered as a money services business, files suspicious activity and currency transaction reports, and holds money transmitter licenses in many jurisdictions. It also pointed to Illinois-style refund protections for new users and said it refunds fees to scam victims, though not the underlying funds. In response to committee questions, members and the company discussed whether crypto kiosks are necessary, how scams can be traced, and whether banks and kiosks can better intervene when suspicious activity is detected.