Key Unions Endorse Durbin, Marshall Credit Card Competition Act

Statement

"Our unions understand that American consumers are concerned about inflation and the high prices of everyday items like groceries and gas, and they understand family budgets are being stretched to the absolute limit with little room for error while the biggest Wall Street banks and the Visa-Mastercard duopoly line their pockets. We wholeheartedly welcome these key endorsements because we can all agree we must look out for hardworking American families. Our bipartisan legislation, which has the support from a wide range of small businesses and consumers, would inject real competition in the credit card market."

With today's union support, we're hopeful it's a wake-up call to Congress: let's break up the sweetheart deal that Visa, Mastercard, and the big banks exploit and let's fight for hardworking Americans paying the price for their price-gouging schemes. It is time to pass our bipartisan, bicameral legislation--the Credit Card Competition Act--and inject competition into the payment process industry, ultimately lowering costs for businesses and consumers."

Source