The Electronic Payments Coalition

?? GUARD YOUR CARD ?? : DC lawmakers are pushing for legislation that jeopardizes your convenient, safe, and effective credit card payments. Take action to GUARD YOUR CARD and stop the Durbin-Marshall money grab for corporate mega-stores. Visit https://guardyourcard.com to learn more.

The Durbin-Marshall credit card mandates will hurt minority-owned small businesses and restrict credit access for the communities that need it most. “When local banks and credit unions lose interchange revenue as a result of [the Durbin-Marshall credit card mandates] they will have to reduce lending to small businesses … This means small minority-owned businesses that often operate on tight profit margins could lose an important financial lifeline, forcing them to cut jobs or close shop entirely.” —Alejandro Urrutia, former president of Latinos Unidos of New Hampshire Continue reading: https://lnkd.in/epXD_NED

The Virginia Bankers Association’s Chandler Owdom highlights the serious risks of Sens. Durbin and Marshall's proposed credit card mandates and lessons learned from debit card mandates.? “If passed, this legislation will likely mean the elimination or severe restrictions on credit card rewards programs going forward – something many millions of Americans count on and benefit from, especially working-class consumers. Despite the rhetoric from supporters of the bill, this provision will negatively impact banks of all sizes, including community banks as we saw with interchange caps on debit cards.” Read more in North Shenandoah News: https://lnkd.in/gXwDF5GK??

The Durbin-Marshall Credit Card Bill is NOT helping small businesses. Hello Alice President and Co-founder Elizabeth Gore states, “I applaud lawmakers for their increased advocacy on behalf of small businesses, but the details matter. If passed, this bill would line the pockets of megaretailers who are unlikely to pass savings on to the consumer while destroying the economics of credit products for consumers and small businesses. I urge Congress to go beyond easy answers and compelling soundbites and instead grapple with the full consequences before moving forward with this legislation.” Read more in American Banker: https://lnkd.in/eMK_HzMh

The Durbin-Marshall Credit Card Bill is a risk for small businesses and state economies. According to Jim Stanley of St. Petersburg, FL: “The state’s economy depends on the stability of its financial systems and small businesses, and this legislation, if passed, could do irreparable damage. Lawmakers should reconsider this legislation in light of the potential economic harm it could cause to the state. The last thing Florida needs is a poorly thought-out law that undermines its economic resilience and harms the very consumers it aims to protect.” Read more in the Tampa Free Press: https://lnkd.in/et9P-_3k

Congress Should Oppose the Durbin-Marshall Credit Card Bill to Protect Small Businesses "Congress must act in the best interests of both consumers and the economy. The proposed legislation, while well-intentioned, fails to consider the broader implications of its actions. Rather than favoring a few large corporations, lawmakers should prioritize the well-being of ordinary citizens and the various sectors of our economy that rely on credit card rewards to thrive." –David Perry, PR Professional Learn more: https://lnkd.in/ekZGPn8w??

Miah Ntepp, the Public Policy Director for the NAACP Denver Branch, warns of the consequences of the Durbin-Marshall Credit Card Bill: “If passed, we need to be very clear what will happen — DIA will have fewer flights and fewer flights mean fewer jobs. Minority and immigrant Communities will pay the price. Many of the good-paying jobs at DIA held by our friends and neighbors will be at risk. Minority-owned businesses that thrive at DIA will suffer.” Read more in Colorado Politics: https://lnkd.in/eH7jqsqh?

"The safety, stability, and support that the current credit card framework provides are foundational to my business’s success." – James Rivenbark, owner of Jars Hospitality Group in Fort Mill, SC. James Rivenbark is sounding the alarm on the unnecessary risks posed by Sens. Durbin and Marshall’s credit card mandates – risks that could harm both small businesses and consumers. "Retailers would likely choose cheaper, less secure networks for processing transactions, thereby? exposing consumers to increased security and fraud risks." – James Rivenbark Let’s be clear: The Durbin-Marshall Credit Card Bill isn’t about competition or lowering costs for small businesses. It’s about giving corporate mega-stores like Target and Walmart the power to route your payments through untested unsecure networks, just to increase their profits at your expense. Small businesses cannot afford weaker payment security, higher costs, and lost rewards. https://lnkd.in/ekzwN-ax??

The Durbin-Marshall Credit Card Mandates are a bad deal for New Hampshire consumers and small businesses. In his Caledonian-Record LTE, Littleton, NH resident Anthony Cogan stresses the economic risks this bill poses–especially for communities reliant on tourism. ?“Beyond individual consumers, I’m also deeply concerned about the broader economic impact this bill could have on communities like ours that rely on tourism. Credit card rewards don’t just fund out-of-state vacations—they help people afford gas for road trips, hotel stays, and other in-state travel expenses. Many families and businesses depend on these benefits to make travel and purchases more affordable.” Research shows federal mandates on payments could eliminate rewards programs, drive up costs and increase fraud. New Hampshire’s tourism industry and local businesses shouldn’t bear the cost of harmful regulations. Learn more: https://lnkd.in/e36hbMdv

Arthur J. Wood, retired Railroad Credit Union CEO, understands the vital role tourism plays in Florida’s thriving economy–and he’s voicing his concern about the damage the Durbin-Marshall Credit Card Bill could cause. “By eliminating rewards programs, restricting access to credit, and weakening fraud protection, the Act threatens to harm the very people it purports to help. Florida’s economy, built on tourism and supported by consumers who rely on credit card benefits, cannot afford to take this risk.” Read his full op-ed for the Tampa Free Press: https://lnkd.in/eGnNdiRq