Impact of Congressional Bill on Small Businesses and Consumers
A bill in Congress pushed by Senators Durbin and Marshall could harm small businesses by altering credit card routing, benefiting big retailers like Walmart and Amazon. Studies show the bill would not help small businesses or consumers, and could increase data security risks.
Key Points
- Proposed bill alters credit card routing system
- Studies show bill would not benefit small businesses or consumers
- Data security concerns raised by Congressional Research Service report
Cons
- Harmful to small businesses
- Benefits big retailers
- Could increase data security risks