Small Business & Entrepreneurship Council Explainer: Why the Credit Card Competition Act is Bad for Small Businesses
| Small Business and Entrepreneurship Council
The Small Business and Entrepreneurship Council (SBE Council) strongly opposes harmful credit card routing legislation introduced this year in the Senate (S. 4674) and the House (H.R. 8874). If enacted, credit card routing mandates would be burdensome for small businesses. The mandates would drive billions of dollars from the credit market and force financial institutions to reduce crucial lending to entrepreneurs and their businesses in need.
Check out SBE Council’s explainer below that highlights how credit card routing mandates would strip small businesses of valuable services, like fraud prevention, that they rely on to protect their business and customers.