TPA Releases Capitol Hill One-Pager on Credit Card Interchange Fees

Today, TPA sent a Background Fact Sheet on credit card interchange fees to members of Congress. As the Consumer Financial Protection Bureau (CFPB) and the Department of Transportation (DOT) prepare for their hearing on airline points tomorrow, TPA reminds members that interchange fees fund credit card fraud protections and card security, as well as help millions of Americans receive cash back and points towards travel or purchases. These consumer protections and benefits are currently under attack by legislation such as the Credit Card Competition Act ( S. 1838/H.R. 3881), introduced by Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.), alongside Reps. Lance Gooden (R-Texas) and Zoe Lofgren (D-Calif.).