In 1955, the island nation of Borneo was in the throes of a serious malaria virus outbreak. It turned to The World Health Organization for help. WHO recommended spraying massive amounts of DDT across the island to kill the mosquitos that carried the disease. Borneo...
Card interchange fees have fierce defenders and heated detractors. Turn on the financial news, and commentary might touch on whether cards are “free” — and who ultimately pays the price. Legislation is winding its way through Congress, most visibly with the Credit Card Competition Act....
The fight over the Credit Card Competition Act (CCCA) has taken to the skies. This week, Sens. Dick Durbin, D-Ill., and Roger Marshall, R-Kan., who sponsored the re-introduction of the CCCA in June of this year, penned a missive to regulators on Capitol Hill to...
The Federal Reserve is reportedly ready to propose reducing debit card fees for merchants. The U.S. central bank on Tuesday (Oct. 17) announced a meeting scheduled for Oct. 25 with one topic on the agenda: “Proposed revisions to the Board’s debit interchange fee cap.” Hours...
June 07, 2023
If at first you don’t succeed, try, try again. That seems to be the prevailing sentiment Wednesday (June 7) when it was announced that the Credit Card Competition Act legislation is being reintroduced on Capitol Hill. This time around, there will be more sponsors across the aisles, as reports came that U.S. Sens. Dick Durbin (Democrat […]
May 08, 2024
U.S. Sen. Roger Marshall, R-Kan., aims to secure a vote on the Credit Card Competition Act (CCCA) by adding it to the Federal Aviation Administration (FAA) Reauthorization bill. Marshall asked the Senate for unanimous consent for a vote to add the CCCA to the Reauthorization bill Wednesday (May 8), according to a press release issued by his office. Speaking on […]
October 12, 2022
A last-minute bipartisan effort to package a credit card swipe fee amendment into a larger spending bill was ultimately unsuccessful. Sen. Dick Durbin (D-Ill.) and Sen. Roger Marshall (R-Kan.) pushed...
September 19, 2022
A pair of U.S. congressmen have introduced the House companion to the Senate’s Credit Card Competition Act of 2022, designed to bring more choice to the credit card market. “Credit...
