When was the last time you booked a flight using rewards points? Or saved on gas? Popular credit card rewards programs like those are offered and supported by the bank that issued your card.
Unfortunately, some in Congress are proposing legislation that threatens your credit card reward programs and potentially exposes your data to security risks.
In fact, bill sponsors are trying to attach this Durbin-Marshall credit card mandate to unrelated legislation.
Unless you want to kiss your cash back and travel points goodbye, the time to contact your lawmakers is now. This misguided mandate would also give the government power to tell your local bank which systems they can use to process your private card data, rather than banks being allowed to choose networks that provide the best service, security, and fraud protections.
Tell Congress to leave consumer credit card rewards alone, keep your data safe, and oppose government-imposed mandates. With your support, we can stop this harmful legislation before it’s too late.