Last year, Senator Dick Durbin (D-IL) introduced legislation that proved deeply unpopular as it was quickly exposed as a government handout to mega-retailers like Walmart and Target. The so-called “Credit Card Competition Act” aimed to lower costs for retailers by allowing stores, rather than customers, to choose the level of payment security used during credit card transactions. This would have come at the expense of consumers, who would be stuck with less secure payments and a loss of rewards.
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Debunking Senator Dick Durbin’s Misleading Op-ed on His Credit Card Routing Mandates
Electronic Payments Coalition
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Press Releases / Statements
Bankrate Interviews Small Business Owner on Threat of Credit Card Competition Act
BankRate.com
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Press Releases / Statements
Mandates on Credit Cards Will Allow Big-Box Stores to Cheap Out on Security
The Well News
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