Consumer Protection - As introduced, prohibits a person from requiring another to use programmable money for a transaction; prohibits an issuer of programmable money from denying a transaction based upon certain factors; requires an issuer of programmable money that denies a transaction to provide reasons for the denial to the affected party upon request; designates violations to be violations of the Consumer Protection Act of 1977 and provides for other forms of relief and enforcement. - Ame...
Failed in s/c Banking and Consumer Affairs Subcommittee of Commerce Committee
Summary
The bill defines “programmable money” and makes it illegal to require anyone to use it for a payment. It also bars issuers of programmable money from denying transactions based on political, religious, gender, health, location, or other protected characteristics, and requires them to explain any denial. Violations are treated as breaches of the state Consumer Protection Act.
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