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Durbin Visits Local Chicago Business To Discuss Credit Card Competition Act

Press Release

Date: Sept. 22, 2023
Location: Washington, D.C.
Issues: Finance and Banking Business, Consumers, and Employees

"Illinoisans are concerned about inflation and the high prices of groceries and gas. What they may not know is that the fees charged by Visa and Mastercard when they use their credit card, known as swipe fees, are adding to this problem. These fees amount to billions of dollars each year, driving up prices forconsumers and squeezing the bottom lines of small businesses. My Credit Card Competition would inject real competition within the credit card market. Our economy thrives when competition is robust, and the credit card market should be no exception."


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