Proposed Legislation Will Cut Credit Card Rewards: Correcting Misinformed Claims

The proposed Credit Card Competition Act (CCCA), which seeks to enact harmful credit card routing mandates, would lead to reduced credit card rewards for consumers. A recent, misleading series of calculations from CMSPI claims that legislation targeting interchange fees will only marginally affect credit card rewards programs.  

But historical evidence, demonstrated through myriad academic studies, shows that the proposed legislation will likely lead to a drastic reduction of rewards programs. 

Copied below is an EPC explainer that debunks misleading claims about the true impact of harmful credit card routing legislation.