Electronic Payments Coalition | November 27, 2023 Corporate Mega-Stores Are Cashing In On Skyrocketing Prices While special interest groups for corporate mega-stores are trying to mislead Congress into believing that payment networks like Visa and Mastercard are at fault, the truth can be found in the double-digit price increases on everyday goods and services. More
Electronic Payments Coalition | October 30, 2023 LOSS OF ACCESS AND HIGHER FEES: SAY NO TO DURBIN 2.0 EPC's latest explainer highlights how Durbin 2.0 would result in consumers losing access to credit cards while retailers like Walmart, Target, and Home Depot would get a big-government windfall. More
Electronic Payments Coalition | October 30, 2023 What Exemption? — Community Banks & Credit Unions Lose Under the Durbin Amendment Although the Durbin Amendment supposedly “exempted” community banks and credit unions, data from the Federal Reserve clearly show that, following the amendment’s passage, interchange revenue fell for these entities in real terms. The same thing will happen if proposed credit card routing mandates are enacted into law. Check out EPC’s latest explainer highlighting how small financial institutions lose big under the Durbin Amendment and credit card routing mandates. More
Electronic Payments Coalition | October 25, 2023 All You Need To Know About Durbin 2.0 Megaretailers like Walmart, Target and Home Depot are working to convince their allies in Congress to pass legislation amounting to little more than corporate welfare paid for by consumers. These Main Street job killing corporations want to impose new government mandates on how retailers process credit cards and while that might seem innocuous enough, 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. Of course they aren’t telling you this, but here are the facts… More
Electronic Payments Coalition | October 20, 2023 Letter: Financial Trades Call on Fed to Reject Requests for Changes to Debit Card Interchange Fees In a new letter sent to the Federal Reserve Board of Governors, the Electronic Payments Coalition, American Bankers Association, American Association of Credit Union Leagues, Consumer Bankers Association, Credit Union National Association, Independent Community Bankers of America, Mid-Size Banks Coalition of America, National Association of Federal Credit Unions and National Bankers Association urged the Fed to reject merchant requests for further changes to Regulation II governing debit card interchange fees. More
Electronic Payments Coalition | October 16, 2023 What Mega-Stores Like Walmart and Target Don’t Want You to Know About Credit Cards The Electronic Payments Coalition released a new explainer document highlighting why retailers and their trade associations have historically pushed for greater usage of credit cards. More
Electronic Payments Coalition | October 9, 2023 Correcting Merchant Claims About Card Fraud Check out EPC's latest explainer that corrects merchant claims about card fraud. More
Electronic Payments Coalition | September 18, 2023 The Two Biggest Myths of the Durbin-Marshall “Big Box Bill” EPC debunks the two biggest myths being pushed by retail and merchant lobbying groups about their Big-Box Bill. More
Electronic Payments Coalition | September 15, 2023 Joint Financial Sector Letter Opposing Durbin-Marshall Amendments to Military Construction, Veterans Affairs Funding Bill Today, 11 trade associations representing virtually all banks and credit unions, including those primarily serving military-affiliated customers and members, sent a joint letter to Congressional leaders expressing strong opposition of the so-called “Credit Card Competition Act of 2023” as well as the effort by Senators Dick Durbin (D-IL) and Roger Marshall (R-KS) to attach their proposed credit card routing legislation (S. 1838) to the Military Construction, Veterans Affairs, and Related Agencies Appropriations Act (H.R. 4366). The full letter can be found below: More
April 15, 2024 EPC Statement & Timeline on Durbin, Marshall Weaponization of Government EPC Read Press Releases / Statements
April 11, 2024 CRS Report: “Unclear” Who Durbin-Marshall Credit Card Bill Benefits EPC Read Press Releases / Statements