Financial Services Coalition Sends Joint Letter to Senate Leaders Opposing Harmful Credit Card Routing Legislation

WASHINGTON, DC – Ten trade associations representing the financial services industry including the American Bankers Association, Association of Military Banks of America, Bank Policy Institute, Consumer Bankers Association, Credit Union National Association, Electronic Payments Coalition, Independent Community Bankers of America, Mid-Sized Bank Coalition of America, National Association of Federally-Insured Credit Unions, and National Bankers Association, sent a joint letter to Senate leaders opposing legislation (S.1838) by Senator Roger Marshall (R-KS) and Senator Dick Durbin (D-IL) creating new credit card routing mandates that would eliminate funding for popular credit cards rewards programs, weaken cybersecurity protections, and reduce access to credit for those who need it the most.