Senate Impasse Over Credit Card Competition Act

Sen. Roger Marshall is reportedly holding up a must-pass spending bill for a vote on his and Sen. Dick Durbin's special interest credit card bill. Marshall is facing opposition from some Senate Republicans over his focus on the Credit Card Competition Act, which aims to inject more competition into payment processing. Critics argue that the bill would compromise payment processing security and kill credit card rewards programs.

Critique of a New Credit Card Bill

A sponsored content by the Electronic Payments Coalition criticizes a new credit card bill proposed by Sens. Dick Durbin and Roger Marshall, claiming it will benefit large corporations like Walmart and Target instead of small businesses. Various reports highlight that the bill may lead to increased costs for consumers and small businesses while benefiting mega-stores. The content urges Congress to consider the negative impacts on consumers and small businesses.