The legislation claims to promote competition but creates conditions disadvantaging the local economy, benefiting large retailers through reduced fees. The CCCA threatens credit card rewards programs, favoring corporations at the expense of consumers and small businesses.
Supporting the bill means voting against consumer interests and popular credit card rewards programs. Past regulatory actions showed prices didn't decrease; large retailers benefited while consumers lost out.
The CCCA would divert money from community-focused credit programs, impacting credit unions and community banks' ability to offer valuable services and access to credit. The bill, supported by corporate giants like Amazon and Walmart, poses threats to the local economy.
#credit-card-competition-act #local-businesses #consumer-interests #credit-card-rewards-programs #corporate-influence
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