Corporate mega-stores are advocating for mandates on credit cards that may benefit large retailers at the expense of consumers and smaller financial entities.
This week, 11 trade associations from the financial services industry, including the American Bankers Association and America's Credit Unions, expressed their opposition to proposed credit card mandates in a joint letter to Congress.
The ongoing debate surrounding credit card mandates continues, with the Merchant Payments Coalition recently directing criticism at credit card companies for challenges faced by Washington, D.C. restaurants.
Electronic Payments Coalition (EPC) Executive Chairman Richard Hunt has expressed approval for President Donald Trump's recent Executive Order aimed at enhancing payment efficiencies.
This week, a coalition of 11 trade associations from the financial services industry expressed strong opposition to proposed legislative measures aimed at expanding federal government control over the U.S. credit card market.
On March 24, 2025, a coalition of financial trade associations filed a letter warning against legislative initiatives that would increase federal government intervention in the U.S. credit card market.
From small businesses to national parks, the transition to electronic payments is making operations more efficient and secure while also reducing costs.
Electronic Payments Coalition Executive Chairman Richard Hunt has voiced support for the new House Financial Services Committee Chair, French Hill, regarding his opposition to the Durbin-Marshall credit card mandates.
Electronic Payment Coalition Executive Chairman Richard Hunt has voiced concerns over proposed legislation from Senators Bernie Sanders and Josh Hawley.
New EU-style mandates on American credit cards are expected to benefit large corporate mega-stores, potentially disadvantaging Main Street businesses, consumers, credit unions, and community banks.
Federal credit card regulations proposed in 2023 could lead to a loss of $227 billion in economic activity and 156,000 job losses, according to an analysis conducted for the Electronic Payments Coalition (EPC) by Oxford Economics Research (OER).
New research by Oxford Economics Research indicates that the Durbin-Marshall credit card bill, introduced in 2023, could lead to a $227 billion reduction in U.S. economic activity and result in approximately 156,000 job losses.
The Electronic Payments Coalition (EPC) has expressed approval following the conclusion of the 118th Congress's legislative session, during which the Durbin-Marshall Credit Card Bill was not advanced.
Electronic Payments Coalition Executive Chairman Richard Hunt has criticized the Consumer Financial Protection Bureau (CFPB) for its recent circular on credit card reward programs.