Search results
Results from the WOW.Com Content Network
Sens. Roger Marshall, R-Kan. and Richard Durbin, D-Ill. introduced the Credit Card Competition Act in 2022, and they later attempted to include it as an amendment to the 2022 National Defense Authorization Act, neither of which gained much traction.
The EPC has created an explainer handout that includes a general summary of the Durbin-Marshall Credit Card Bill and its negative impact on consumers, small businesses, and financial institutions.
WASHINGTON — U.S. Senate Majority Whip Dick Durbin (D-IL) and U.S. Senator Roger Marshall, M.D. (R-KS) introduced the bipartisan Credit Card Competition Act of 2022, legislation that would enhance competition and choice in the credit card network market, which is currently dominated by the Visa-Mastercard duopoly. Building off of debit card ...
Building off of debit card competition reforms enacted by Congress in 2010, the bill would direct the Federal Reserve to ensure that giant credit card-issuing banks offer a choice of at least two networks over which an electronic credit transaction may be processed.
To amend the Electronic Fund Transfer Act to require the Board of Governors of the Federal Reserve system to prescribe regulations relating to network competition in credit card transactions, and for other purposes.
Washington, D.C. – Today, U.S. Senator Roger Marshall, M.D. reintroduced the Credit Card Competition Act, bipartisan and bicameral legislation alongside U.S. Sen. Majority Whip Dick Durbin (D-IL), Sen. Peter Welch (D-VT), and Sen. J.D. Vance (R-OH). This legislation aims to increase competition to end the Visa and Mastercard duopoly that is ...
The Credit Card Competition Act of 2023 would enhance credit card competition and choice in order to reduce excessive credit card fees. It would require the largest credit-card issuing financial institutions in the country—those with assets over $100 billion–to enable at least two credit
The Credit Card Competition Act of 2023 ("the Big-Box Bill") proposed by two U.S. senators — Richard Durbin, D-Ill., and Roger Marshall, R-Kan. — would be disastrous for consumers, especially the millions of consumers who get immense value from cash-back and travel rewards on credit card transactions.
Building off of debit card competition reforms enacted by Congress in 2010, the bill would direct the Federal Reserve to ensure that the largest credit card-issuing banks offer a choice of at least two networks over which an electronic credit transaction may be processed.
The facts are clear: proposed mandates under the Durbin-Marshall bill would deprive consumers of essential credit card benefits such as cash back, fraud protection, and credit access.