The Electronic Payments Coalition sponsors the subsequent articles.  ,
Sen. Roger Marshall ( R- KS) was against the Consumer Financial Protection Bureau ( CFPB) before he was for it.
He supported the Consumer Financial Protection Bureau Accountability Act even as late as 2021, and he argued that the CFPB’s money framework was unconstitutional. And, only last summer, he signed an amicus short to the Supreme Court again arguing the Bureau’s illegitimacy.
He has changed his mind now that it advances his personal mission despite his multi-year effort to destroy the Bureau. Sen. Marshall has chosen to join Sen. Durbin (D-IL ) in calling on the CFPB and President Biden’s Department of Transportation ( DOT ) to pursue American companies because they oppose a bill that his political backers support.
This is just one more Sens. Marshall and Durbin’s fervent desire to punish those who oppose their tragic credit card legislation.
Sens. The proposed credit card processing requirements in the proposed Burkin and Marshall credit card bill alter the current system by introducing unknown networks and impose large federal regulations. In a time when Americans need financial security and more safety, no less, this program may help commercial mega-stores save funds. However, it poses a threat to card rewards and consumer data security.
Numerous everyday Americans, including Sen. Marshall’s components in Kansas, depend on credit card details for help with costs, which is a common feature used by flights. The Marshall-Durbin bill is opposed by Airlines for America ( A4A ) and a number of airline unions in vocal voice. A4A recently released a study outlining the major damage the proposed legislation would have on the American economy and the travel and tourism sectors. According to A4A’s research, 30 million Americans rely on airline-affiliated accounts to earn frequent flyer miles and credit card rewards. With these credit cards, Americans earn points or miles, which accumulate over time and allow the user to get good perks, like school upgrades, access to airport lounges, excess baggage allowance, priority booking, and even completely flights.
According to A4A, 15 million local visitor trips are covered by airline credit card rewards, or$ 23 billion in economic activity in 2022 only. Many Americans could n’t afford to travel without these benefits, which negatively impacted their quality of life and negatively impacted the economy. Cities and states that are highly regarded as tourist destinations may endure significantly, and thousands of Americans may lose their jobs. The last thing our government’s business needs is a strike to such an important business.
Instead of listening to the statistics, Sens. People or any business that dares to challenge their checklist of priorities for their vengeance journey has been added by Durbin and Marshall.
The CFPB and DOT are both accused of representing the aircraft industry during the punishment journey. The CFPB and the DOT immediately announced a May 9 shared hearing on airline praise and loyalty programs, claiming they need to obtain details after meeting with Sen. Durbin.
Sen. Marshall has demonstrated that he prefers social passion to the issues he was elected to represent, even going as far as to collaborate with an organization that he previously claimed was illegal in an effort to retaliate against those who have criticized his act.
The Durbin-Marshall credit card bill poses a risk to regular Americans and may damage them. Let’s be obvious: someone who supports the Senator’s harmful use of the government against Americans is attacking the right to reject bad plan.
