STATE OF NEW YORK
25 BEAVER STREET
NEW YORK, NEW YORK 10004
|George E. Pataki
RE: Credit Card Transaction Fee
An inquirer took exception to the Insurance Departments position that N.Y. Gen. Bus. Law § 518 prohibits the passing of credit card transaction fees on to insureds that pay their premiums by credit card. The Department submitted the question to the New York State Office of Attorney General, as the agency responsible for enforcing the General Business Law, which recently confirmed the Departments position that credit card surcharges may not be passed on to insureds pursuant to N.Y. Gen. Bus. Law § 518. The Attorney Generals opinion may be viewed on-line at: http://www.oag.state.ny.us/lawyers/opinions/2006/formal/2006-F2.pdf.
For further information you may contact Associate Attorney Sally Geisel at the New York City Office.