AS FEBRUARY GETS BACK TO MORE
TYPICAL WEATHER THIS TIME OF
YEAR. >> THANK YOU.
>>> A NEW LAW TAKES EFFECT THIS
WEEKEND REQUIRING BUSINESSES TO
INFORM CONSUMERS ABOUT CREDIT
CARD SURCHARGE THAT’S WILL COST
THEM MORE MONEY.
>> AND LYNDA BAQUERO SHOWS US
HOW IT WORKS AND HOW IT AIMS TO
HELP.
>> Reporter: FOR THREE
GENERATIONS, THIS FAMILY HAS
BEEN BUFFING SHOES AND MAKING REPAIR AT THE SHOE REPAIR IN
WHITE PLAINS, NOW CHARGING
DIFFERENT PRICES WHEN YOU PAY
WITH CASH OR A CREDIT CARD.
>> MOSTLY I PAY WITH A CREDIT
CARD.
>> I PREFER HE A CREDIT CARD. >> Reporter: PAUL SAID EACH TIME
HE ACCEPTS A CREDIT CARD, HE’S
CHARGED A FEE OF 3.65%.
HE’S ALLOWED TO PASS THAT ON BUT
NOW THERE ARE NEW RULES.
STARTING SUNDAY, BUSINESSES MUST
SHOW YOU THE HIGHER PRICE WHICH
CAN INCLUDE A FEE FOR USING A
CREDIT CARD.
OR THEY MUST POST BOTH THE CREDIT CARD AND CASH PRICE.
JUST LIKE YOU SEE AT GAS
STATIONS.
ROBERTO RODRIGUEZ IS NEW YORK STATE’S SECRETARY OF STATE.
>> THAT WAY THE CONSUMER KNOWS
EXACTLY WHAT THEY’RE GETTING AND
IF THEY CHOOSE TO USE CASH, THAT
THEY’LL BE GETTING THE LESSER
PRICE.
>> A GREAT IDEA FOR THIS TO BE
AS EASILY VISIBLE AS POSSIBLE
FOR THE CONSUMER. >> I THINK THE RULE IS FINE.
WE TELL OUR CUSTOMERS, IF YOU
PAY CASH, IT’S THAT PRICE.
>> YOU HAVE TO DO IT THE RIGHT
WAY.
>> ON THE STATE DEPARTMENT’S
WEBSITE, IT SHOWS WHICH SIGNS
ARE ALLOWED AND WHICH ARE
ILLEGAL.
YOU CAN NO LONGER SHOW JUST THE
PERCENTAGE THAT WILL BE ADDED
AND ASKING CUSTOMERS TO DO THE
MATH.
INSTEAD, IT MUST SHOW THE ALL-IN
PRICE.
IT DOESN’T APPLY TO DEBIT CARDS.
>> WE UNDERSTAND THAT. IT IS THE COST OF DOING BUSINESS
AND IT IS SOMETHING THAT CAN BE PASSED ALONG TO THE CONSUMERS.
IT JUST HAS TO BE STATED UP
FRONT WHAT THAT COST IS.
>> IT’S GOOD TO HAVE THE CHOICE
SO A CONSUMER CAN CHOOSE WHAT
THEY WANT TO DO.
IT IS IMPORTANT THE VENDOR
COMMUNICATES THE ADDITIONAL
CHARGE AND FEE.
>> Reporter: BUSINESSES COULD
FACE FINES FOR VIOLATIONS.
BUT THE DEPARTMENT OF STATE SAYS PLAYER MORE INTERESTED IN MAKING