Megaretailers like Walmart, Target, and Home Depot are working to convince their allies in Congress to pass corporate welfare legislation paid for by American consumers. These Main Street job killing corporations want to impose new government mandates on how retailers process credit cards. It means the data and fraud protection you expect; rewards you use to pay for everyday items like gas and groceries; and convenience you have come to expect when using a credit card would all go away. This is exactly why the Durbin-Marshall Credit Card Bill is strongly opposed by a diverse and wide-ranging set of organizations and industries, including labor unions, small business owners, financial institutions including credit unions and community banks, policy institutes, trade associations, think tanks, and airlines.
Here are the facts…