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.
EPC Executive Chairman Richard Hunt has expressed support for Congressman French Hill following his election as the new Chairman of the House Financial Services Committee.
A coalition of financial organizations including the American Bankers Association, Electronic Payments Coalition, Consumer Bankers Association, and others, sent a joint letter to the Senate Committee on the Judiciary in opposition of the proposed Credit Card Competition Act.
A recent analysis by the Electronic Payments Coalition (EPC) has highlighted the significant economic impact that electronic payments will have on Cyber Monday, one of the biggest online shopping days of the year.
The Wall Street Journal Editorial Board has published an op-ed criticizing the Durbin-Marshall Credit Card Bill, which is being pushed by Senator Dick Durbin.
The Electronic Payments Coalition (EPC) has released new research highlighting the benefits of electronic payments for both small businesses and consumers during Thanksgiving.
The Senate Judiciary Committee recently concluded a hearing concerning the Durbin-Marshall Credit Card Bill, which has sparked significant controversy.
The American Bankers Association, America's Credit Unions, and several other financial associations have collectively urged Congress to reject new mandates on credit card regulations.
Sales through credit and debit card transactions have contributed to more than $93 trillion in economic activity since 2006, based on data from Nilson.
Electronic Payments Coalition Executive Chairman Richard Hunt has criticized Senate Judiciary Chairman Dick Durbin for holding a hearing he describes as politically motivated.
Electronic Payments Coalition Executive Chairman Richard Hunt expressed concerns following a court hearing regarding an injunction lawsuit against a new Illinois state law.
Virginia's banking and credit union representatives have voiced concerns over a new bill that could change how credit card transactions are processed. The Credit Card Competition Act (CCCA), introduced by Senators Dick Durbin of Illinois and Roger Marshall of Kansas, is at the center of this debate.
The Electronic Payments Coalition has initiated a significant advertising campaign against a new Illinois law concerning credit and debit card processing. The coalition's effort comes as the law faces legal challenges in federal court. According to the coalition, the legislation will lead to complications for consumers and businesses in Illinois.
The Electronic Payments Coalition (EPC) has released its 2024 Q3 Data Dashboard, providing insights into current trends in the credit and debit card markets. According to the data, interchange rates, which are part of the fees retailers pay for processing credit cards, have remained stable at under 2% for nearly ten years. This finding challenges claims that processing costs are increasing.
Senator Durbin and supporters of the Durbin-Marshall Credit Card Bill claim their efforts are aimed at assisting small businesses, yet critics argue that their actions suggest otherwise. The Senator has recently highlighted meetings with the Home Depot CEO and is set to receive an award during a tour of Macy's, which is recognized as the largest department store in the country.