Credit Card Act 2023.pdf

The Credit Card Competition Act of 2023 - one-pager.pdf
Preview of Credit Card Act 2023
🔗 Source: durbin.senate.gov
📊 Size: 69 KB
👤 Author: Swanson, Daniel (Judiciary-Dem)
⬇️ Downloads: 61

Summary

American consumers are worried about inflation and rising prices, and credit card swipe fees are part of the problem, with the Visa-Mastercard duopoly controlling over 80% of the US credit card network market, charging merchants $93 billion in fees in 2022, which are passed on to consumers as higher prices. The Credit Card Competition Act of 2023 aims to reduce excessive fees by requiring large banks to enable at least two credit card networks on their cards, promoting competition and choice, and incentivizing better service and lower costs.

Description

American consumers are worried about inflation and rising prices, and credit card swipe fees are part of the problem, with the Visa-Mastercard duopoly...

Technical Information

  • File Format: PDF
  • File Size: 69 KB
  • Pages: 1
  • Language: EN
  • Author: Swanson, Daniel (Judiciary-Dem)
  • Total Downloads: 61
  • Last Updated: 1 week ago

Document Overview

This PDF document about Credit Card Act 2023 provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Credit Card Act 2023.

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