Proposed Legislation Impacting Credit Card Routing System
Senators Dick Durbin and Roger Marshall proposed legislation that could harm American consumers and small businesses by altering the credit card routing system under the guise of boosting competition.
Key Points
- Legislation threatens current credit card system
- Studies show small businesses would be at a competitive disadvantage
- Previous similar legislation benefited large corporate retailers
Cons
- Legislation may harm consumers and small businesses
- Could result in expanded government control