The Small Business and Entrepreneurship Council (SBE Council) strongly opposes harmful credit card routing legislation introduced this year in the Senate (S. 1838) and the House (H.R. 3881). This “Big-Box Bill” is being pushed by mega-retailers like Walmart and Target so that they can increase their bottom line at the expense of small businesses and entrepreneurs.
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.