This week, as you meet with lobbyists from the National Restaurant Association, you will hear their talking points about credit card interchange and the Durbin-Marshall Credit Card Bill. Below are the facts. The post A Staffer’s Guide to Meeting with the National Restaurant Association appeared first on Electronic Payments Coalition ..read more

The Federal Trade Commission (FTC) recently released a report questioning whether COVID-19 price increases at grocery conglomerates, including corporate mega-stores, were necessary and if the continued higher prices were all about increasing profits.  EPC’s new one-pager, copied below, highlights how these conglomerates and mega-stores used their market power to avoid supply chain disruptions while raising prices under the guise of supply chain problems. Now, corporate mega-stores and their lobbyists are trying to blame credit card companies for these higher prices as an excuse to push ne ..read more

By Joe Rozell – April 2, 2024 LINK: https://www.detroitnews.com/story/opinion/2024/04/02/rozell-credit-card-competition-act-could-create-more-problems-for-consumers/73179996007/ The post The Detroit News: Credit Card Competition Act could create more problems for consumers appeared first on Electronic Payments Coalition ..read more

EPC STATEMENT: WASHINGTON – Electronic Payments Coalition (EPC) Executive Chairman Richard Hunt issued the following statement regarding the impact the interchange lawsuit agreement between U.S. merchants, Visa, Mastercard and other financial institutions has on the Durbin-Marshall credit card legislation: The agreement between merchants, Visa, Mastercard and financial institutions has been decades in the making and treats businesses of all sizes equally without government mandates or jeopardizing consumers’ data security and rewards programs. Merchants will also receive a host of ot ..read more

Contrary to claims made by corporate mega-stores, the data demonstrates credit card interchange rates, which have remained stable for nearly a decade, are not a contributing factor to these hardships. A new explainer document from the Electronic Payments Coalition (EPC) titled “IT’S NOT YOUR CARD: Unpacking the Costs that Actually Crush Small Restaurants” highlights the surging labor costs, skyrocketing prices of goods, and escalating rents squeezing small restaurant owners. The post IT’S NOT YOUR CARD: Unpacking the Costs that Actually Crush Small Restaurants appeared first on Electronic Pay ..read more

The Congressional Research Service (CRS) released a report scrutinizing the benefits of the Durbin-Marshall Credit Card Bill, revealing uncertainties similar to those raised by the Richmond Federal Reserve: that routing mandate legislation has not and will not yield significant savings for consumers.  This independent analysis raises critical questions about the real beneficiaries of such regulatory efforts, suggesting that, contrary to claims made by the bills sponsors, the advantage may instead lie with corporate mega-stores. What’s more, bill supporters are still unable to explain how ..read more

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, cor ..read more

Congress has a toxic relationship with card routing mandates. Despite over a decade of research showing similar mandates for debit cards were a disaster for consumers, small businesses, and small financial institutions, corporate mega-stores are back and promising this time things will be “different.” But the truth is the Durbin-Marshall Credit Card Bill is a sweetheart giveaway to mega-corporations like Walmart and Target, while eliminating credit card rewards, weakening fraud protections, and reducing access to credit for small businesses and low-income Americans. Congress: This Valentine’s ..read more

Since Congress introduced price caps and routing mandates on debit cards in 2011, research from independent and government sources has illuminated their disproportionate negative impact on small businesses. While corporate megastores like Walmart and Target reaped billions in new revenue, small enterprises were largely excluded from the profits-bonanza. Now, Senators Dick Durbin and Roger Marshall aim to extend similar mandates to credit cards. However, experts warn that the consequences could be dire for Main Street. The facts are clear: Despite assurances that credit card mandates will benef ..read more

When Congress enforced price caps and routing mandates on debit cards almost 15 years ago, it was touted as a measure to save consumers billions through lower prices. However, subsequent independent and government reports have unequivocally shown that consumers have not benefited financially, while corporate giants, like Walmart and Target, have reaped billions in additional revenue. Additional research shows that expanding the Durbin amendment to credit cards would deliver the same disappointment for consumers as the original. The facts are clear: proposed mandates under the Durbin-Marshall b ..read more