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Electronic Payments Coalition |

How the Big-Box Bill (S. 1838/H.R. 3881) Undermines Credit Card Security and Innovation

Senator Dick Durbin (D-IL) and his big-box retailer allies are back to their old tricks. This time, they’re trying to pass their disastrous Big Box Bill (S. 1838/H.R. 3881) under the guise that this legislation would increase competition in the payments ecosystem. In reality, their bill would devastate security and innovation within the credit card market. 
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Electronic Payments Coalition |

New Spelman College Study: Interchange Regulations Disproportionately Hurt Low-Income Families

Angelino Viceisza, Ph.D., recently released a study addressing the potential impacts of interchange regulation on the U.S. card industry, particularly payment and routing mandates. The stated purpose of the study is to “present potential implications of interchange regulations on lower interest cardholders, smaller merchants, and smaller banks.” Dr. Viceisza concludes that policymakers should refrain from extending interchange regulation to the U.S. credit card industry. Read the main takeaways from the study below.
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Electronic Payments Coalition |

Coalition Letter Opposing Regulation on Debit Interchange

On February 1, 2022, several banking organizations, including a number of EPC members, penned a letter to the Federal Reserve. The letter was in response to the Fed’s recent proposal to reopen Regulation II, which covers debit card routing and interchange. The authors urge the Federal Reserve to resist increasing the Durbin Amendment’s regulatory burden, concluding that the amendment should be repealed. Read the full letter below.
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Electronic Payments Coalition |

The Value of Rewards: October 2021

Today, the EPC released its report on the value of electronic payments rewards programs. The report illustrates the numerous benefits that credit and debit card rewards offer retailers and consumers of all income levels while rebutting the most common criticisms of rewards cards. It concludes: “the data clearly demonstrate that interchange fees that merchants pay are easily outweighed by the value they receive in return.” The full report is included below.
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