Don't bank on it.
Sens. Dick Durbin (D-III.) and J.D. Vance (R-Ohio) are two of the leading sponsors of the Credit Card Competition Act, which would artificially cap so-called swipe fees charged by credit card companies such as Visa, Mastercard, and American Express.
Those fees, which range from about 1.2 percent to over 3 percent of the transaction, cover the credit providers' overhead costs, including fraud protection. They also fund the reward programs that many credit cards now offer as consumer incentives, where every dollar spent translates into points that can be redeemed for flights, free stuff, or cold hard cash.
Denne historien er fra May 2024-utgaven av Reason magazine.
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Denne historien er fra May 2024-utgaven av Reason magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Gimme Shelter - The U.S. confronts a growing homelessness problem. Does Miami have the answer?
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