The Electronic Payments Coalition sponsors the next articles.  ,
Lawmakers Roger Marshall (R-KS) and Dick Durbin (D-IL ) have resorted to seeking government-backed vengeance against those opposed to their bill after the congressional action on their imperfect credit card bill has stalled.
Sens. The credit card bill from Durbin and Marshall attempts to impose government regulations on credit cards routing, altering the existing system by introducing unknown networks and menacing card rewards. Airlines for America ( A4A ) and a number of airline unions have responded by expressing their opposition to the false bill. A4A even released a study outlining the considerable damage the Durbin-Marshall bill would have on the American economy as a whole and the travel and tourism industry.
The study demonstrates how 30 million Americans rely on airline-affiliated cards to earn credit card details and fidelity items. These cards help Americans earn points or miles, which accumulate over time and help the user to get perks, like school upgrades, access to airport lounges, excess baggage allowance, priority booking and also free flights.
Countless Americans would lose the ability to obtain go without these benefits, which would be a devastating blow to the country’s economy.
According to A4A, credit cards from airlines alone contributed to$ 15 billion in economic activity for the year 2022, which includes 15 million domestic visitor trips.
The travel and tourism sector may suffer a$ 23 billion decline as a result of the loss of these airline credit card rewards, which may cause the loss of hundreds of work. Cities and states that are successful in tourism had experience. The last thing our government’s business needs is a reach to a trillion- money industry.
Sens. In an effort to silence their opponents, Dubin and Marshall are attempting to assist the megacities that support the bill’s supporters. Today, Sens. Utilizing their authority, Durbin and Marshall are using their position to sabotage the federal government, focusing on the aircraft industry and any other foes who would like to oppose them.
The CFPB and the Department of Transportation held a joint reading on aircraft praise and loyalty programs after Consumer Financial Protection Bureau Director Rohit Chopra met with Sen. Durbin. The hearing is scheduled for May 9. The organizations claim they want to know how much data is needed to determine whether more action is required to “ensure good competition.” In addition, there are no balances in place for these mega-stores’ cruel practices as they continue to charge higher prices despite the financial difficulties their customers are experiencing.
We must not allow Durbin and Marshall to coerce themselves into passing negative policy. No matter what challenges they make, the plain truth is that Main Streeters or small businesses will certainly benefit from this act.
This legislation may hurt regular Americans, the economy, neighborhood banks, and the countless travel and tourism jobs in cities across the nation. Americans ca n’t afford to lose just so Sens. Marshall and Durbin you get.
