James Staake, founder and CEO of Your American Flag Store, recently testified in front of the Tennessee House Commerce Committee in support of HB 0846, a bill that would prohibit online payment systems from freezing a user’s funds without prior warning.
The bill, according to its text, would “prohibit an online payment system from freezing the funds of a user without first providing the user with a 90-day written notice of the online payment system’s intent to freeze the user’s funds,” designating a violation as an unfair or deceptive act or practice pursuant to the Tennessee Consumer Protection Act of 1977.
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