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Capitol Fa - Your Illinois News Radar » Stop Credit Card Chaos In IllinoisCapitolFax.com

[The following is a paid advertisement.] A last-minute provision called the Interchange Fee Prohibition Act (IFPA) was snuck into the budget process last May and will create chaos for small businesses and consumers across Illinois if it takes effect on July 1, 2025. The IFPA gives corporate mega-stores like Walmart and Home Depot — who pushed [...]

Financial lobbying storm brews over possible credit card-crypto bill pairing

The ScoopIt took cryptocurrency firms two tries to get the Senate to advance a plan they’ve long pursued to police stablecoins, a type of digital assets pegged to currencies like the dollar.Now, a divisive policy fight over credit cards could derail the entire bill.The retail and finance sectors have long clashed over legislation from Sens. Roger Marshall, R-Kan., and Dick Durbin, D-Ill., that would target credit card swipe fees by encouraging m…

Durbin, Marshall push credit card amendment

Sens. Roger Marshall and Dick Durbin aim to add their Credit Card Competition Act legislation to the GENIUS stablecoin bill advancing in Congress.

US lawmakers consider retail card fee relief

The legislation would make the biggest banks allow credit card payments to go through different networks, creating more options and competition.The post US lawmakers consider retail card fee relief appeared first on Retail Insight Network.

NRF: Retailers say adding credit card ‘swipe’ fee bill to cryptocurrency bill could provide relief from inflation

WASHINGTON – Adoption of the Credit Card Competition Act as part of cryptocurrency legislation expected to be approved by the Senate would provide Congress with an opportunity to ease higher prices from inflation, the National Retail Federation said Wednesday.“With prices for many goods still high, bringing rising swipe fees under control would help offset those costs and provide important relief for consumers and small businesses alike,” NRF ch…

Trying to Revive the CCCA, Durbin And Marshall Look to Make It an Amendment to the GENIUS Act - Digital Transactions

Sponsors of the Credit Card Competition Act moved late Tuesday to attach the legislation as an amendment to the GENIUS Act, a proposed bill to regulate stablecoins. While the Senate must approve the move, it potentially gives the legislation new life as it failed to advance out of committee in the Senate during the last Congress. The GENIUS Act, or the Guiding and Establishing National Innovation for U.S. Stablecoins Act, passed a preliminary vo…