‘Heavy-handed government intrusion’ were some words used…
 
Supermarket News Daily

MARCH 2, 2023

Credit Unions attack the Credit Card Competition Act

The NAFCU claims it will impair both cardholders and issuers.

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Tell us what you think...

The National Association of Federally Insured Credit Unions (NAFCU) is the latest organization declaring its opposition to the proposed Credit Card Competition Act. In a letter to Congressional leaders, B. Dan Berger, NAFCU president and chief executive officer, called the bill “unwarranted” and said it represents a “heavy-handed government intrusion into the credit card payments market that would hurt credit unions and consumers alike, while allowing the largest retailers to pocket significant cost savings.”

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How affected are you / your business by credit card fees? Let us know in the comments here or email SN Executive Editor Chloe Riley at chloe.riley@informa.com.

WHAT DO YOU THINK?