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What People Are Saying about the Durbin-Marshall Credit Card Bill

| Electronic Payments Coalition

Americans across the country are speaking out against harmful credit card routing legislation.

DK Willard – Small Business Owner urges opposition to Credit Card Competition Act(Pelican Post News): “As a small business owner in Louisiana, I know firsthand how legislation can completely change the course of a business. One particular piece of legislation that Louisianans should be aware of is the Credit Card Competition Act of 2023 by Senator Durbin. This piece of legislation could potentially strip consumers of their credit card rewards at the benefit of big box stores like Target and Walmart. Louisianans value consumers over big box stores. It is a Louisiana value to support the middle class. That is why it is imperative that Senator Kennedy and the rest of our Louisiana delegation in Washington, D.C. oppose the Credit Card Competition Act of 2023.”April 30, 2024
Patrice Onwuka – How the Credit Card Competition Act Could Disadvantage Small Businesses(Independent Women’s Forum): “Consumers and small businesses can expect to pay the price for these new regulations in two ways: 1.) The end of credit card rewards programs. Small businesses enjoy the rewards generated by using specific credit cards and invest those rewards back into their businesses. That level is estimated to be over $12 billion. Those benefits will disappear as credit card companies save money. 2.) A reduction in the availability of credit.”May 1, 2024
Marian Krumberger – Hands off our rewards credit cards (The Washington Times): “Like many Americans, I use a rewards credit card. According to a May 2023 report by CNBC, 90% of credit card spending is done on reward cards. U.S. consumers heavily favor the frequent flyer miles, cash back, hotel and travel perks, and other loyalty benefits of these cards.Ironically, if the cynically named Credit Card Competition Act is passed into law, all those benefits are likely to go away. This bill, authored by Sen. Dick Durbin, Illinois Democrat, has little to do with competition but much to do with big-box stores getting Congress to stack the deck in their favor.”April 26, 2024
Ashley Nordman – The Credit Card Competition Act would harm Missouri’s small businesses (Missouri Independent): The current system fosters trust. Customers trust that their information is safe, and I trust that payments go through securely, protected from fraud thanks to the protections of the current system. I’m deeply concerned that the U.S. Senate is considering a bill that threatens the safety of digital credit card payments, and that unfortunately, Sen. Josh Hawley has recently signed on as a sponsor. The bill, misleadingly titled the Credit Card Competition Act (CCCA), would open up credit card processing to untested, less secure payment networks, significantly increasing the risk of fraud and data breaches.”April 23, 2024
State Rep. Cory Criswell – Mandates on credit card routing is bad policy for Hoosiers(The Courrier-Times): [T]he constituents of House District 54 have given me the great honor of entrusting me to represent them at the Indiana Statehouse. I do my best to represent the values that I know are important to the individuals I represent: protecting families and their ability to provide, a government that works for its people not against them, and common-sense solutions that are the Hoosier way. It’s unfortunate that some of those same Hoosier values aren’t what we see coming out of Congress in Washington, DC. Instead, we oftentimes see big, bloated government that is bureaucratic in nature and adopts policies that make it more difficult to provide for families rather than easier.April 20, 2024
Ron Bird – The Credit Card Competition Act Will Encourage Fraud (Real Clear Markets): The supporters of the Credit Card Competition Act (S. 1838 and H. R. 3881) declare that its passage would reduce costs for merchants and prices for consumers. Its backers, however, ignore the fact that it may very well increase the cost of credit card transactions by abetting an increase in fraud, which would ultimately result in higher costs and reduced access to credit for millions of Americans.April 19, 2024
Kevin Oliver – Opposing the credit card competition act to preserve small business and local economies (Bakersfield): Living and working in our community, I’m deeply committed to the prosperity of local enterprises and our broader economic health. That’s why I’m reaching out to Sen. Alex Padilla with a plea to oppose the Credit Card Competition Act. Despite its seemingly harmless name, this bill could significantly impact families in Bakersfield and beyond in negative ways.April 13, 2024
Maya Wheeler  Stop big retailers’ latest move against minority communities (Colorado Politics): One specific bill, the Credit Card Competition Act, poses a significant threat to diverse communities in Colorado. This bill, championed by major retailers, introduces new regulations for the financial industry that could result in fewer jobs, diminished credit card rewards and stricter loan requirements. The travel industry is expected to bear the brunt of immediate job losses. [A]irlines and travel organizations caution this bill will lead to a substantial reduction in travel credit card rewards, thereby discouraging air travel, hotel stays and dining out.”April 12, 2024

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