Payment Choice Act of 2025
Sponsored By: Senator Kevin Cramer
Introduced
Summary
Guarantee consumers' right to use cash for in-person retail purchases and set national rules that stores taking in-person payments would have to accept cash for transactions up to $500. The bill would ban higher prices for cash-paying customers and create limited, specific exceptions, enforcement tools, and reporting requirements.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Private enforcement and penalties
If a store breaks the cash rule, you could send a certified notice and the store would have 45 days to fix it. If not fixed, you could sue and recover actual money lost or $250 if losses are under $250. Stores could face civil fines up to $500 for a first offense and $1,500 for repeat offenses. A prevailing private party could get attorney fees up to $3,000, and the Justice Department could join important cases.
Right to pay with cash up to $500
You would be able to pay with cash for in-person purchases up to $500 per transaction. Stores that accept in-person payments would have to accept cash and could not charge cash customers more than other customers. Stores could temporarily refuse cash if their sales system fails or they lack change. For five years, stores could refuse $50 and larger bills; after five years the Secretary would require acceptance of $1, $5, $10, and $20 and make rules on other denominations. Stores could meet the rule by offering on-site devices that turn cash into prepaid cards only if the device and card have strict protections: no fees, no personal data collection, a $1 maximum minimum deposit, and limited, clearly disclosed inactivity fees.
Annual ATM location reports to Congress
One year after enactment, the FDIC and NCUA would give Congress annual reports on ATMs. Reports would list how many ATMs each insured institution operates. Reports would name locations of fixed ATMs and the coverage area for mobile ATMs.
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Sponsors & CoSponsors
Sponsor
Kevin Cramer
ND • R
Cosponsors
Sen. Fetterman, John [D-PA]
PA • D
Sponsored 7/17/2025
Roll Call Votes
No roll call votes available for this bill.
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