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Rising Inflation Squeezes American Families as Corporate Retail Giants Reap Inflated Profits

| Electronic Payments Coalition

WASHINGTON, DC — It’s been nearly 15 years since the Durbin Amendment imposed price caps and routing mandates on debit cards, financially burdening small businesses, while corporate mega-stores, like Walmart and Target, have accumulated substantial revenue gains. Now, Senators Dick Durbin and Roger Marshall are looking to do the same to Americans’ credit cards.

These conglomerates have been significant contributors to inflation, as mega-stores consistently raise prices and place added strain on American households. Yet, rather than taking responsibility for their role in driving inflation, corporate mega-stores are shifting blame while profiting from consumers’ expenses. These mega-stores, bolstered by their allies in Congress, are shifting the blame by scapegoating credit card networks, airlines, and credit card issuers.

However, the reality contradicts their narrative, as credit card interchange rates have remained stagnant for nearly a decade, with $67.9 billion returned to consumers through rewards and cash-back programs to help American families meet their everyday needs.

Congress should stand up for consumers and small businesses by REJECTING the Durbin-Marshall Credit Card Bill.

A new EPC one-pager copied below highlights the data outlining the legislation’s pitfalls and how mega-stores continue taking more money out of consumers’ pockets without any financial return.

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