--- title: HB 576. Commerce and trade; require that the processing of transactions initiated by users of peer-to-peer payment platforms by delayed collection: bills id: 2025-2026/hb576 cite_as: HB 576, 2025-2026 Regular Session (Ga.) canonical_url: https://georgiacommons.org/bills/2025-2026/hb576 md_url: https://georgiacommons.org/bills/2025-2026/hb576.md text_url: https://georgiacommons.org/bills/2025-2026/hb576/text source_url: https://www.legis.ga.gov/legislation/70663 date: 2025-04-04 status: introduced corpus_version: bills-2026-08-28 license: Public record of the Georgia General Assembly, via LegiScan; see about.md publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice. up: https://georgiacommons.org/bills/2025-2026.md previous: https://georgiacommons.org/bills/2025-2026/hb575.md next: https://georgiacommons.org/bills/2025-2026/hb577.md index: https://georgiacommons.org/bills/index.md omitted: votes and history omitted_chars: 235 omitted_url: https://georgiacommons.org/bills/2025-2026/hb576.md?full=1 bill_number: HB 576 session: 2025-2026 Regular Session session_slug: 2025-2026 chamber: House bill_type: bill status_date: 2025-02-21 last_action: House Withdrawn, Recommitted sponsors: - Al Williams - Tyler Smith - Eddie Lumsden - Mack Jackson - Carolyn Hugley text_version: Introduced has_text: true legiscan_url: https://legiscan.com/GA/bill/HB576/2025 upstream_id: 1979985 summaries_model: claude-sonnet-5 topic_tags: - consumer protection - peer-to-peer payments - money transmitters - fair business practices - digital payment apps --- # HB 576. Commerce and trade; require that the processing of transactions initiated by users of peer-to-peer payment platforms by delayed ## Text 25 LC 55 0531 House Bill 576 By: Representatives Williams of the 168th, Smith of the 18th, Lumsden of the 12th, Jackson of the 128th, and Hugley of the 141st A BILL TO BE ENTITLED AN ACT To amend Part 2 of Article 15 of Chapter 1 of Title 10 of the O fficial Code of Georgia1 Annotated, relating to the "Fair Business Practices Act of 1975 ," so as to require that the2 processing of transactions initiated by users of peer-to-peer payment platforms be delayed;3 to provide for the cancellation of such transactions during such delay period; to provide for4 penalties; to provide definitions; to provide for related matte rs; to repeal conflicting laws;5 and for other purposes.6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7 SECTION 1.8 Part 2 of Article 15 of Chapter 1 of Title 10 of the Official C ode of Georgia Annotated,9 relating to the "Fair Business Practices Act of 1975," is amend ed by adding a new Code10 section to read as follows:11 "10-1-393.20.12 (a) As used in this Code section, the term:13 (1) 'Money transmitter' shall have the same meaning as provide d in Code14 Section 7-1-680.15 H. B. 576 - 1 - 25 LC 55 0531 (2) 'Peer-to-peer payment platform' means an online digital platform that allows a user16 to transfer funds from his or her bank account to another person's bank account.17 (b) Any money transmitter that operates a peer-to-peer payment platform shall delay the18 processing of any transaction on such platform involving the transfer of funds initiated by19 a user of such platform for a period of not less than 15 minute s, during which time such20 user shall be able to cancel the transaction.21 (c) Any money transmitter that violates this Code section shall be subject to the penalties22 provided in this part."23 SECTION 2.24 All laws and parts of laws in conflict with this Act are repealed.25 H. B. 576 - 2 - ## Summaries written by Georgia Commons The following was written by claude-sonnet-5 from the text above and is not part of the bill. Quote the text, not the summary. A Georgia House bill would require peer-to-peer payment apps like Venmo or Cash App to delay transactions for at least 15 minutes, giving users time to cancel before money moves. ### Plain-language summary Right now, transfers on peer-to-peer payment platforms, apps that let someone send money directly from their bank account to another person's bank account, typically process quickly with little chance to undo a mistake or a scam payment. This bill would add a new section to Georgia's Fair Business Practices Act of 1975 (O.C.G.A. Title 10) requiring that any money transmitter running such a platform delay processing of a user-initiated transfer for at least 15 minutes. During that delay window, the user who started the transaction would be able to cancel it. The bill borrows the definition of 'money transmitter' from Georgia's existing banking law (O.C.G.A. § 7-1-680) and defines a peer-to-peer payment platform as an online service that lets someone move funds from their bank account to someone else's. Companies that operate these platforms and fail to build in the delay and cancellation option would be subject to penalties already set out under the Fair Business Practices Act. ### What it does - Adds a new section to Georgia's Fair Business Practices Act (O.C.G.A. § 10-1-393.20) covering peer-to-peer payment platforms. - Requires money transmitters operating these platforms to delay processing of user-initiated transfers for at least 15 minutes. - Gives users the right to cancel a transaction during that 15-minute delay window. - Defines 'peer-to-peer payment platform' as an online service moving funds from one person's bank account to another's. - Applies the existing penalty scheme under the Fair Business Practices Act to money transmitters that violate the delay requirement. ### Who it affects Peer-to-peer payment platform operators (money transmitters running apps that move money between personal bank accounts) and the everyday Georgians who use these apps to send money to friends, family, or others would both be affected by the new delay and cancellation rule. ### Why it matters A mandatory 15-minute delay would give users a window to catch and cancel mistaken or fraudulent transfers before the money actually moves, which could reduce losses from scams or accidental sends, while also changing how quickly these popular payment apps complete transactions. ### Key provisions - Section 1 adds new Code Section 10-1-393.20 to Part 2 of Article 15 of Chapter 1 of Title 10, the Fair Business Practices Act of 1975. - Defines 'money transmitter' by reference to the existing definition in O.C.G.A. § 7-1-680. - Defines 'peer-to-peer payment platform' as an online digital platform allowing a user to transfer funds from his or her bank account to another person's bank account. - Requires a delay of not less than 15 minutes for processing user-initiated transfers, during which the user may cancel the transaction. - States that violating money transmitters are subject to the penalties already provided in that part of the Fair Business Practices Act. - Section 2 repeals any conflicting laws. ## Status - Status: Introduced (2025-02-21) - Last action: House Withdrawn, Recommitted (2025-04-04) - Sponsors: Al Williams, Tyler Smith, Eddie Lumsden, Mack Jackson, Carolyn Hugley - Official page: https://www.legis.ga.gov/legislation/70663 > The history, votes, and amendments (235 characters) are at https://georgiacommons.org/bills/2025-2026/hb576.md?full=1