Transcript Highlights:

• in support of the banks.
• You've got not only your acquiring banks, your issuing banks.
• Think about this: every bank now—there are over 12,000 banks in the world—every bank has to be able to
• to his bank account.
• Instead, banks offset those losses by increasing account fees and reducing services.

Summary: The Special Legislative Commission on the Future of Payments and Sales Transactions by Credit Card and the Impacts for Small Businesses held a public hearing chaired by Senator Paul Feeney and Representative Jamie Murphy. The commission reviewed its charge to gather input on payment trends, cashless transactions, credit card fees, mobile payments, buy now/pay later, and related issues affecting small businesses. Representative Sean Garballey testified in support of maintaining the current card system, emphasizing tourism’s importance to Massachusetts and arguing that universal card acceptance and interchange stability are especially important with major upcoming events and visitors. A large portion of the hearing focused on independent restaurants and small businesses arguing that credit card processing fees are burdensome and unfair when applied to sales tax and gratuities that are not business revenue. Testifiers including Jen Ziskin, Kristen Canty, Nancy Cushman, Kerry Colzer, and others described razor-thin margins and said restaurants pay fees on money passed through to the state or employees. Ryan Lotz also urged reforms to chargebacks, including refunding chargeback fees when merchants prevail, requiring consumers to contact businesses first, and making fees proportional. In response, credit union and banking representatives, including Alex Vereen, Brad Popolado, Deb Peters, and Keely McEwen, argued that interchange funds fraud protection, card infrastructure, and consumer protections, and warned that state-specific changes could create compliance burdens, higher costs, or reduced access to services. Several witnesses addressed legal and policy questions. Dan Swanson and David Montero said states have authority to regulate aspects of the payment system, but Montero warned that state-specific rules could create uncertainty and conflict with federal banking law. Julian Morris and other industry witnesses argued that card payments benefit consumers and merchants by reducing cash-handling costs and increasing spending, while critics of reform said changes could shift costs into bank fees or reduced rewards. Commission members questioned whether sales tax could be separated from card transactions, whether surcharging should be considered, and whether vendor compensation or other state-level relief might be more workable. The chairs said they were exploring a narrower, targeted approach rather than a broad overhaul, and announced plans for one additional public hearing to allow further testimony.

Transcript Highlights:

• There are some food banks across the country that are focusing really heavily on county-by-county service
• , health care services, To a host of things, not just food, but other services, health care services,
• So when we talk about food banks providing emergency services or emergency food, that really is the purpose
• So when we talk about food banks providing emergency services or emergency food, that really is the purpose
• So when we talk about food banks providing emergency services or emergency food, that really is the purpose

Summary: The committee heard a lengthy presentation from the New Mexico Rural Library Initiative in support of fully funding the rural library endowment with an additional $29.5 million. The presenters described rural libraries as essential community infrastructure that provide not only books and internet access, but also early childhood programs, adult education, workforce support, telehealth, disaster response, and civic meeting space. They argued that the endowment would provide stable annual support for staffing and operations, help sustain libraries in very small towns and tribal communities, and support new or developing libraries. Members asked about eligibility, county coverage, how funds are distributed, and whether the state tracks broader outcomes such as job placements or certifications; the presenters said the State Library administers the funds and that the initiative itself is a nonprofit capacity-building organization, not the fund manager. Some members raised concerns about whether an endowment is the best long-term model versus recurring annual appropriations, and about the need for better reporting and state-library involvement. The committee then heard from food bank leaders Jill Dixon and Katie Anderson about food security and its economic impact. They said New Mexico’s five food banks and more than 500 partner agencies serve all 33 counties, distribute over 45 million meals, and rely mostly on philanthropy, with some state and local support. They emphasized that SNAP is a major economic driver, supporting grocery access, jobs, and local spending, and that recent legislative growth funding helped food banks respond to a surge in demand during a SNAP disruption. They also highlighted food banks as community hubs that can connect people to health care, job training, and other services, including through clinic referrals and closed-loop systems. In response to questions, they said food access gaps remain in some rural areas, that clients can generally seek food at other distribution sites without barriers, and that longer-term solutions should include more grocery access, healthy corner stores, and stronger broadband and health care infrastructure. The final presentations came from the Gallup-McKinley County Chamber of Commerce and the Artesia Chamber of Commerce. Gallup-McKinley described a shrinking workforce, youth outmigration, crime, health care shortages, malpractice costs, and gross receipts tax burdens as major barriers to rural economic growth, and urged action on workforce pipelines, housing, public safety, malpractice reform, and tax/regulatory changes. Artesia highlighted its murals, library, sports tradition, oil and gas, agriculture, federal training center, and refinery, while also noting workforce shortages, health care recruitment challenges, housing constraints, and the need for quality-of-life investments and more flexible regulation. The committee also briefly heard a bill presentation proposing a New Mexico-Ireland Trade Commission to promote bilateral trade and investment, especially in technology, agriculture, and energy sectors. No votes were taken because quorum was not reached, and the endorsement item was not acted on.

Transcript Highlights:

• Our members include non-bank mortgage lenders and servicers.
• I’m going to move to the servicers and the banks.
• So in our case...” “...for a non-bank servicer, as the borrower is in forbearance, the servicer must
• So in our case for a non-bank servicer, the non-bank servicer, as the borrower is in forbearance, the
• We have across bank, credit union, and our non-bank mortgage lenders and servicers.

Committee: House Banking and Finance

Transcript Highlights:

• You know, banks Banks stay on that front line all the time.
• How do you break it down just to Arkansas banks if there are banks that have offices and banks in other
• How do you break it down just to Arkansas banks if there are banks that have offices and banks in other
• types of banks and non-banks.
• Most banks offer some type of online account or mobile banking product and service, and many, many thousands

Summary: A joint House-Senate Insurance and Commerce meeting focused on the growing threat of financial fraud in Arkansas, with members and witnesses describing scams targeting seniors, small businesses, and working families. The committee first approved the November 3, 2025 minutes, then heard from the Arkansas Bankers Association, the American Bankers Association, banks, the Attorney General’s Consumer Protection Division, the Arkansas Mortgage Bankers Association, the State Bank and Securities Department, the Insurance Department, and AARP. Witnesses described common schemes including spoofed bank calls and texts, government imposter scams, romance and investment scams, business email compromise, fake job postings, gift card scams, check fraud, wire fraud, reverse mortgage scams, identity theft, and insurance fraud. Several witnesses emphasized that cryptocurrency kiosks and crypto transfers make recovery difficult or impossible, and that artificial intelligence is making scams more convincing and scalable. Witnesses repeatedly stressed education, verification, and coordination among banks, law enforcement, regulators, and consumers. Bank and mortgage representatives urged consumers to slow down, independently verify wire instructions, avoid clicking unexpected links, use tap-to-pay rather than chip or swipe when possible, and never share account credentials or one-time codes. The Attorney General’s office said it investigates consumer complaints, mediates disputes, works with social media platforms to remove scam ads, and recently created a Financial Fraud Task Force with bankers and other stakeholders. The State Bank and Securities Commissioner highlighted the Safe AR Act, the state’s crypto kiosk framework, and fraud education efforts such as “fraud bingo,” while the Insurance Department described its law-enforcement role and a range of insurance-related fraud schemes it prosecutes. AARP said fraud is widespread and underreported, especially among older adults. Members asked about reporting scams, how losses are handled, whether tap is safer than chip, how crypto fraud works, whether Arkansas has model legislation to address telecom and social media impersonation, and how local law enforcement and state agencies coordinate investigations. Witnesses said banks generally absorb much of the financial loss under federal rules, while consumers bear the inconvenience and account changes. Several witnesses said Arkansas should consider additional legislation to hold telecom companies and social media platforms accountable for spoofed caller IDs and impersonation ads, and one witness said a federal Scam Act is moving in Congress. No additional votes or formal actions were taken beyond approval of the minutes, but witnesses agreed to share consumer education materials and model legislation with committee staff.

Transcript Highlights:

• If that business lived at banks, it would be reinvested.
• Communities remain disconnected from mainstream services, particularly with the rise of fintech and non-bank
• The study also found that independent mortgage banks outperform banks and other depository lenders in
• The study also found that independent mortgage banks outperform banks and other depository lenders in
• , for origination, and for of finance and the costs for servicing, for origination, and for servicing

Summary: The Assembly Banking and Finance Committee met to hear several bills, beginning with a consent calendar that included AB 665 and AB 866, both adopted on a do pass basis and referred to Appropriations. The committee then took up AB 801, which would create a California Community Reinvestment Act to require covered financial institutions, including state-chartered banks, credit unions, residential mortgage lenders, and money transmitters, to meet the financial needs of low- and moderate-income communities and communities of color. The author and supporters argued the bill would close gaps left by the federal CRA, address redlining and discriminatory lending, and expand investment in housing, small business, and community development. Support came from community groups, CDFIs, labor, and housing advocates, while opposition from mortgage bankers and credit unions argued the bill would impose costly new reporting and regulatory burdens, especially on institutions they said already serve underserved borrowers well. Committee members discussed the scope of the bill, the experience of other states with state CRA laws, and possible carve-outs or tiered treatment for smaller credit unions. AB 801 was passed as amended and referred to Appropriations, with the roll left open and later completed; one member voted no and others were not voting or voted aye as the roll was finalized. The committee also heard AB 743, which would require licensing and surety bonds for commercial lawsuit financing and bring those transactions under DFPI oversight. The author said the bill was aimed at a largely unregulated, multi-billion-dollar industry and was intended to increase transparency and address concerns about foreign interests, fraud, and abusive litigation funding practices, while not affecting consumer legal funding. Supporters, including Unified Patents, the Civil Justice Association of California, the California Chamber of Commerce, the California Trucking Association, and the American Property Casualty Insurance Association, said the bill was an important first step toward disclosure and regulation. There was no opposition testimony. AB 743 passed unanimously as amended and was referred to Appropriations, with the roll held open briefly for absent members before the committee adjourned.

Transcript Highlights:

• Valley Bank.
• and services and lower costs.
• You know, you've got community banks, regional banks, large foreign banks and GSIBs and 2,300-plus bank
• Silicon Valley Bank.
• I speak with a lot of banks.

Committee: Senate Banking, Housing, and Urban Affairs Committee

Keywords: legislation, housing affordability, financial regulation, public testimony, accountability, oversight

Summary: The meeting involved significant discussions around key legislative proposals, primarily focusing on various bills such as HB2 and SB5. The committee examined the implications of these bills on issues like housing affordability and financial regulation. Notable members engaged in debates, providing differing perspectives on the potential economic impacts of the proposed bills. The meeting witnessed public testimony, which included a call for accountability in government actions and oversight of current financial policies. Members echoed concerns about following through on commitments to address critical issues affecting everyday Americans.

Transcript Highlights:

• How do you break it down just to Arkansas banks if there are banks that have offices and banks in other
• What he did was he didn't call his bank; he called the receiving bank.
• types of banks and non-banks.
• types of banks and non-banks.
• Most banks offer some type of online account or mobile banking product and service, and many, many thousands

Transcript Highlights:

• It is not bank regulation.
• I'm speaking on behalf of my bank, banks across the state of Florida and the FBI.
• to bank to bank.
• banks.
• who bank with community banks.

Committee: Senate Banking and Insurance

Summary: The committee heard several bills and amendments, beginning with CS/SB 498 on trust fund interest for IOTA accounts. The sponsor said a 2023 Florida Supreme Court rule sharply increased interest paid into legal aid funding, creating a windfall and making participation difficult for banks. An amendment was adopted requiring savings institutions to pay the higher of 0.25% or the highest comparable rate offered on certain non-IOTA accounts, and the bill then passed favorably after testimony from banks, legal aid representatives, and other stakeholders both supporting and opposing the measure. The committee also approved CS/SB 232, which clarifies Florida’s consumer collection law applies only to phone calls during restricted hours and not emails or text messages, after a delete-all amendment and supportive testimony from industry groups. It then approved SB 132, as amended, to designate gold and silver as legal tender and set rules for custody, audits, electronic transfer, and government acceptance of payments; supporters called it a sound-money measure, while the banking association said it still had unresolved technical concerns. Later, the committee passed SB 1466 to create a trust fund for the My Safe Florida Home Program, with an amendment funding it from 20% of collected insurance premium tax revenue. It also considered SB 1206 on transportation network company insurance, reducing coverage during the “dead-leg” period before a rider is picked up from $1 million to lower limits; the bill drew sharp opposition from trial lawyers and support from insurers and some business groups, and the committee adopted a clarifying amendment before reporting the bill favorably. Finally, CS/SB 924 on fertility preservation for cancer patients was amended several times to narrow scope and clarify coverage rules, then passed favorably after debate over cost, preauthorization, and post-treatment storage obligations. The committee adjourned after allowing technical and conforming changes to implement the adopted amendments.

Transcript Highlights:

• How do you break it down just to Arkansas banks if there are banks that have offices and banks in other
• How do you break it down just to Arkansas banks if there are banks that have offices in other states?
• What he did was he didn't call his bank; he called the receiving bank.
• types of banks and non-banks.
• Most banks offer some type of online account or mobile banking product and service, and many, many thousands

Summary: A joint House-Senate Insurance and Commerce meeting focused on the growing threat of financial fraud in Arkansas, with members hearing from bankers, regulators, law enforcement, AARP, and mortgage and insurance industry representatives. Witnesses described a wide range of scams, including spoofed bank calls and texts, fake websites and social media impersonation, romance and investment scams, business email compromise, gift card fraud, check fraud, wire fraud, reverse mortgage scams, and crypto kiosk schemes. Several speakers emphasized that fraud is increasingly organized, technology-driven, and amplified by artificial intelligence, and that seniors are disproportionately targeted and often suffer the largest losses. Testimony highlighted both prevention and recovery efforts. Bankers said institutions spend heavily on training, customer education, and fraud detection, but often cannot stop losses once customers have been convinced to authorize transfers. The Attorney General’s office described its Consumer Protection Division, a new Financial Fraud Task Force, and examples of recovering funds quickly from crypto kiosk and wire fraud cases. The State Bank Department and Securities Department said Arkansas’s 2025 crypto ATM legislation and related education requirements have helped, and they urged continued public education. The Insurance Department reported major insurance-fraud trends, including fake insurance cards, forged policies, premium-finance schemes, and staged auto accidents, and said it prosecutes these cases aggressively. Members asked about reporting scams, the security of tap payments, how fraud losses are tracked, the role of crypto kiosks, and whether Arkansas should pursue model legislation or stronger action against telecom and social media companies. Witnesses said tap payments are generally safer than chip or swipe, that crypto transfers are often unrecoverable, and that spoofed caller ID and impersonation ads remain major problems. Paul Benda of the American Bankers Association urged state and federal action against telecom and social media platforms and supported national scam legislation. No new bills were voted on at the meeting, but members approved the November 3, 2025 minutes and several witnesses offered to share model legislation, consumer education materials, and state-by-state fraud data with the committee.

Transcript Highlights:

• I would imagine if I got a call from my bank and if I bank locally, I would go to the teller of my bank
• > a call from my bank and if I bank a call from my bank and if I bank locally,<00:41:01.200><c> I</c>
• <00:54:03.520><c> under</c><00:54:03.760><c> no</c> bank, um, the bank is under no bank, um, the bank
• . service. service.
• Online banking does provide a valid service.

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.

Transcript Highlights:

• telling attorneys that your bank is not paying the appropriate rate, and you need to find a new bank
• But to tell the bank what rate they have to charge is, we believe, the bank regulator's role, and it's
• "There used to be, if some of you might remember, Mike Fields was a bank lobbyist and a bank president
• "There are seven federal regulators of banks in the banking industry.
• And this notion that there's more banks participating now, listen, there's been a number of banks that

Committee: Senate Judiciary

Summary: The Judiciary Committee met with a quorum present and considered several bills. SB 106 on exploitation of vulnerable adults would allow service of process on scammers through the same nontraditional communication methods they use; it passed 8-0. CS/SB 280 on candidate qualification would create an enforceable party-affiliation requirement and a private right of action to disqualify noncompliant candidates; it passed unanimously. CS/SB 948 on flood disclosures was amended to extend disclosure requirements to residential leases, condo developer leases, and mobile homes, with tenant remedies if disclosures are not provided and flooding causes major losses; it passed 8-0. The committee also advanced CS/SB 498 on IOTA interest rates after a lengthy debate over legal aid funding and bank regulation. Supporters argued the bill would restore sustainability and fairness to the program by setting alternative interest-rate benchmarks, while opponents said it would cut funding for civil legal aid and that banks participate voluntarily. After testimony from legal aid leaders and bankers, the bill passed 7-2. SB 774, requiring clerks to electronically transmit certain mental health, substance abuse, and risk protection orders to sheriffs within six hours, was presented in response to a fatal Volusia County incident and passed 11-0. CS/SB 752 on defamation and online publication was amended to require removal from a website rather than the internet, then passed 8-2 after testimony from the media, a private attorney, and supporters who said it would help people harmed by false online reports. The committee also heard SB 832 on former phosphate mining lands, which would create a narrow defense against strict liability claims if notice and gamma radiation survey requirements are met. The bill was amended to clarify notice provisions and received support from industry and technical witnesses describing radiation surveys and reclamation practices. The transcript cuts off before the final vote on SB 832, so no committee action on that bill is shown in the excerpt.

Transcript Highlights:

• Chris Richards, Chief Banking Officer, Kipcott 5-cent Savings Bank.
• Exactly what's happened in banking.
• , Bank 5, Needham Bank, but it would not apply to Bank of America, right?
• is watching Citi Bank, Citi’s bank is watching Cap 1, and Cap 1 just acquired Discover.
• debit cards with community banks.

Summary: The Special Commission on the future of credit card payments and their impacts on small businesses heard testimony from credit union, retail, banking, and payments industry representatives. Much of the discussion focused on proposals to exclude sales tax and tips from interchange fees, the Illinois Interchange Fee Prohibition Act and related litigation, and whether similar state action in Massachusetts would help small businesses or instead create a patchwork that burdens state-chartered institutions. Witnesses from defense and community credit unions argued interchange helps fund fraud prevention, cybersecurity, member services, and low-fee products, while retail and NRF representatives said merchants are paying significant swipe fees and that state laws like Illinois’s are aimed at reducing costs that are not being passed on to consumers. Several witnesses emphasized that the current payment system provides security, fraud protection, rewards, and access to credit, and that many of the costs merchants complain about are actually bundled processor or acquirer fees rather than interchange itself. Others countered that small businesses are struggling with rising overall costs and that Massachusetts should consider reforms such as allowing surcharging, improving transparency in merchant contracts, and studying collection costs. There was also discussion of the recent Visa/Mastercard antitrust settlement, with industry witnesses describing it as meaningful relief for merchants and opponents saying it is temporary and incomplete. No formal votes were taken on legislation. The commission accepted oral testimony, noted that written testimony would be accepted through July 31, and concluded the meeting by unanimously voting to adjourn. The chair and members said they would continue gathering testimony and work toward recommendations, with the chair stressing the need to find a fair middle ground that supports both small businesses and the broader payments ecosystem.

Transcript Highlights:

• bank.
• bank.
• bank.
• banks.
• banks.

Bills: SF0021 , SF0022 , SF0054 , SF0055

Committee: Senate Minerals, Business & Economic Development

Transcript Highlights:

• and the military service of my husband.
• Adding even one more food bank to CDSS's workload will increase the Adding even one more food bank to
• It will shift resources from one food bank to another food bank.
• We have two food banks. San Diego Food Bank is about 52 to 54 million pounds of output.
• of a food bank, they're being denied those services because of an archaic old state law.

Committee: Senate Human Services

Transcript Highlights:

• and the military service of my husband.
• Angeles Regional Food Bank.
• That left the food banks.
• We have two food banks. Los Angeles. We have two food banks.
• of a food bank, and they're being denied those services because of an archaic old state law, I think

Summary: The committee first adopted a 4-0 consent calendar for SB 1345, SB 1410, and SB 1421. It then heard SB 1200 on child care, which would redefine infant and toddler age categories so providers could count 18- to 24-month-olds as toddlers without changing ratios. The author and family child care providers said the bill would better reflect child development, improve reimbursement, increase capacity, and help keep family child care businesses open; there was no opposition, and the bill passed 4-0 to Appropriations. The committee next approved SB 971, a permissive framework for counties to offer senior education and technology training through local public health systems and community partners. Supporters said it would help older adults with digital literacy, fraud awareness, health, and social connection, while remaining optional and locally tailored. There was no opposition, and the bill passed 4-0 to the floor. The committee also passed SB 1234, which requires fentanyl to be included in court-ordered drug testing in dependency cases when drug testing is already ordered. The author, an angel family member, and a sheriff’s office witness described child deaths and fentanyl exposure risks; the bill passed 4-0 to the floor. SB 1109, dealing with oversight of short-term residential therapeutic programs in small rural counties, drew substantial testimony. Supporters from Alpine County argued that two facilities there strain local emergency response and that annual review should be triggered by repeated serious citations or placement in counties lacking basic infrastructure. Opponents said the bill was too broad and could destabilize needed placement capacity. After discussion, the author accepted committee amendments, and the bill passed 4-0 to Appropriations as amended. The committee also passed SB 961, which would notify financial aid applicants that they may be eligible for CalFresh; students and advocates said it would reduce food insecurity and improve college success, with no opposition, and it passed 4-0 to Appropriations. Later, SB 1099, clarifying local governments’ authority to provide state or local public benefits to all residents under federal PRWORA exemptions, was heard and supported by local government attorneys; it was held on call after a 2-0 roll. SB 1190, creating licensing and safety rules for youth transport companies used in out-of-state residential placements, was supported by survivors and advocacy groups, with some support-if-amended testimony; it passed 4-0 to the Public Safety Committee. Finally, SB 1325, a narrow San Diego County measure to allow Feeding San Diego to participate in Cal Food under specific conditions, drew support from the author and Feeding San Diego but opposition from the California Association of Food Banks, which argued it would shift limited resources and add administrative burden. The transcript ends during committee discussion on SB 1325, before a final vote is shown.

Transcript Highlights:

• Chris Richards, Chief Banking Officer, Kipcott 5-Cent Savings Bank.
• And again, the interchange fee goes to the bank. So I think many times we, the issuing bank.
• , Bank 5, Needham Bank, but it would not apply to Bank of America, right?
• Bank, Citizens, yeah.
• debit cards and community banks.

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.

Transcript Highlights:

• Scanlon for legislation to establish a sick leave bank for J.
• Scanlon for legislation to establish a sick leave bank for J.
• Scanlon for legislation to establish a sick leave bank for J.
• The Committee on Public Service, to whom was referred the petition accompanied by House Bill 2798, of
• Report of the Committee on Public Service.

Summary: The House opened with the Pledge of Allegiance and then took up several routine matters from the Committee on Rules, including ceremonial resolutions recognizing the Concord-Nenezi sister city relationship, the 35th anniversary of the Massachusetts-Hokkaido sister-state relationship, and congratulating Rachel Cohen on earning Eagle Scout. The House suspended the rules and adopted those resolutions. It also suspended Joint Rule 12 on a number of petitions, including proposals involving neuropsychology evaluations for persons with intellectual disabilities, pharmacists’ participation as preferred providers, a sick leave bank for a Department of Transportation employee, and land/easement authority for the City of Lowell. The main substantive issue was House Bill 4001, the fiscal year 2026 state budget, which came from the Senate with a full substitute amendment. The House suspended the rules but voted not to concur with the Senate amendment. The chamber then agreed to reappoint a conference committee, naming Representatives Michlewitz, Ferrante, and Smola to negotiate with the Senate. The House also considered and advanced several Public Service Committee bills establishing sick leave banks for state and local employees, including Kendra Winner, Dana Johnson, Stephen Forget, Daniel Yender, and Martin Kratman; each was ordered to a third reading after suspension of the rules. Later, the House took up Senate No. 2521, a fiscal year 2025 supplemental appropriations bill. After suspension of the rules, the bill was read a second time, ordered to a third reading, passed to be engrossed, and then enacted. The emergency preamble was separately adopted by a recorded vote, and the bill was finally passed. The House also adopted an order to meet again the following Monday at 11 a.m., then adjourned.

Transcript Highlights:

• First, land owned by a nonprofit land bank is exempt from property tax.
• First, land owned by a non-profit land bank is exempted from property tax.
• health care services.
• health care services.
• And you may not know, but I actually helped shepherd the first state land bank legislation.

Summary: House Finance heard several bills and took no recorded votes. HB 2367 would end special tax and emissions exemptions for the Centralia coal plant by limiting its Climate Commitment Act exemption to pre-2026 emissions, removing limits on additional greenhouse gas requirements, and repealing coal sales and use tax exemptions. The sponsor, Rep. Fitzgibbon, said the bill would help keep the plant’s transition to cleaner natural gas generation on track; Climate Solutions supported it, while business and clean-energy groups raised concerns about allowance-market impacts and asked for amendments to adjust the cap-and-invest allowance budget. HB 1974 would authorize public housing authorities, public corporations, and nonprofits to operate as land banks for affordable housing, give them priority for tax-foreclosed properties, and provide property tax, leasehold excise tax, and REET exemptions for land bank transactions. Rep. Hill said the bill was narrowed to reduce fiscal impact and support existing land banking work in Spokane; supporters said it would lower land costs and speed affordable housing development, while questions focused on how public land would be used and whether affordability should be permanent rather than limited to 30 years. HB 2650, a Department of Revenue request, would standardize notice and effective dates for local REET and lodging tax changes and clarify documentation for an affordable housing sales tax deferral. DOR supported the bill as an administrative efficiency measure, and there was no opposition testimony. HB 2626 would raise the premium tax on health maintenance organizations, health care service contractors, and self-funded multiple employer welfare arrangements from 2% to 3%, remove a dentistry-related exemption, and add a new 1% tax on certain disability and group stop-loss insurers. The sponsor said the bill is intended to help fund Apple Health and subsidies amid federal funding concerns; insurers and business groups opposed it as a cost increase likely to be passed on to consumers and employers, while patient and advocacy groups supported the revenue idea but urged that funds be dedicated to subsidies or other health care supports and that pass-through to consumers be prevented.

Transcript Highlights:

• Chris Richards, Chief Banking Officer, Kipcott 5-Cent Savings Bank.
• And again, the interchange fee goes to the bank. So I think many times we, the issuing bank.
• , Bank 5, Needham Bank, but it would not apply to Bank of America, right?
• is watching Citi Bank, Citi's Bank is watching Cap 1, and Cap 1 just acquired Discover.
• debit cards with community banks.

Summary: The Special Commission on the future of credit card payments and their impacts on small businesses heard extensive testimony from credit unions, retailers, payment industry groups, and a credit card issuer. Much of the discussion focused on proposed state laws that would limit interchange fees on the tax and tip portions of transactions, especially Illinois’s Interchange Fee Prohibition Act and similar efforts in other states. Witnesses opposing the proposals argued that interchange helps fund fraud protection, cybersecurity, rewards, and access to credit, and warned that state-by-state rules would create a patchwork that could harm state-chartered banks and credit unions, raise compliance costs, and reduce consumer access to credit. Supporters of reform argued that swipe fees are a significant burden on merchants, especially small businesses, and that current pricing is opaque and often bundled with other processor charges. Several witnesses emphasized that the current payment system provides major benefits to merchants and consumers, including security, convenience, faster settlement, online commerce, and broader access to credit. One witness from Capital One said the industry’s losses from fraud and default are substantial and that interchange helps offset those risks; he also noted that merchants already have some tools, such as surcharging where allowed and negotiating clearer processor contracts. Retail representatives and the National Retail Federation countered that small businesses are under pressure from many costs and that interchange and related fees remain a real pain point, with some urging the commission to consider reforms that would return more money to businesses without disrupting the system. There was also discussion of the recent Visa/Mastercard antitrust settlement, with industry witnesses describing it as a significant merchant win that includes temporary rate reductions, more surcharge flexibility, and the ability to decline certain card tiers. No votes were taken. The meeting concluded after all scheduled testimony was heard, with the commission chair saying the session had been productive and that the committee would continue gathering testimony and written comments before making recommendations.

Transcript Highlights:

• </c><00:57:25.119><c> Services</c> banking service fees on Title Services banking service fees on Title
• ><c> would</c> know what kind of a bank service would know what kind of a bank service would consumers
• you</c> getting services from their Bank you getting services from their Bank you know<01:00:53.440><
• </c><01:03:27.000><c> charging</c> kind of banks service would be charging kind of banks service would
• Trust</c><01:09:45.679><c> Services</c> Bank bank service charges Trust Services Bank bank service charges

Committee: House Taxes