What’s in your wallet? A lot less if Dick Durbin gets his way – The Hill

"Durbin’s proposed interference in the credit card market will wallop consumers in three ways: they will lose rewards and cash-back programs; they will face higher annual fees; and they will be exposed to the potential of fraud through less-secure networks. None of this is speculation, as Durbin’s meddling with debit cards demonstrated exactly how banks respond when handcuffed in a competitive market."
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state_pension_millionaires
3 years ago

Illinois is a total mess. Guess what happens when you elevate typical IL politicians to national positions–i.e. Senator Durbin? Yes, national decline….just like IL at the state level.

Riverbender
3 years ago

With Durban supporters it is more about EBT cards rather than credit cards.

Pat S.
3 years ago

Thanks, Dickie! Another blow to consumers.

Ddan
3 years ago

The $60 Billion in benefits to consumers are untaxed income. Greedy gov can’t abide by that.

Old Joe
3 years ago

Don’t change dicks in the middle of a screw, Vote for Durbin in 22!

Ming the Merciless
3 years ago

Dick Durbin, dumber than your average politician.

debtsor
3 years ago

Nonsense. It’s not a competitive market at all. Wal-Mart, Target and others have tried to break into the market, or go around it, because they pay MC and VISA billions and billions in interchange fees A YEAR, but because two companies control 80% of the market, there is no way to get into the market. Our fees are 7x higher than Europe. There’s a lot of monopolists anti-capitalist behavior in the marketplace, it’s rampant throughout our system, because the gov. for years beginning with Obama, turned a blind eye to trust law, and it’s about time we do things to… Read more »

Riverbender
3 years ago
Reply to  debtsor

Don’t use them if you don’t like the terms of usage

The Doctor
3 years ago
Reply to  Riverbender

Try renting a car, hotel room etc without one. Not possible

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