Big banks are working to raise credit card swipe fees even higher, which will only make it more challenging for businesses — especially small businesses — to expand, hire new employees and lower prices at a time of high inflation. It’s time for Congress to act.
The bipartisan Credit Card Competition Act will infuse competition into the marketplace by simply requiring there be at least two competing processing networks enabled on each credit card. These reforms have the potential to save American businesses and consumers an estimated $15 billion per year.
Tell Congress to stand up for Main Street over Wall Street and support the Credit Card Competition Act.
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