Higher fees could push more Americans into higher-cost alternatives.
Big retailers like Walmart, Target, and Home Depot are pushing for corporate welfare legislation that would be funded by American consumers. They are trying to impose new government mandates on how retailers process credit cards. Although this may seem harmless, it would mean the end of data and fraud protection, rewards programs that consumers use to pay for everyday items like gas and groceries, and the convenience people have come to expect when using a credit card. The credit card routing mandates would eliminate almost all the funding that goes towards popular credit card rewards programs, weaken cybersecurity protections, and reduce access to credit. Read More.
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