The following content is electronic payment federation.
Sen. Roger Marshall (R-Kansas) previously opposed the Consumer Financial Protection Bureau (CFPB).
As recently as 2021, he Consumer Financial Protection Bureau Accountability Act and believed the CFPB’s funding structure to be unconstitutional.And just last summer, he Court summary He once again argued to the Supreme Court that the department was unconstitutional.
Despite years of campaigning to dismantle the Secretariat, he has now reversed course, saying it would benefit his own ends. Sen. Marshall has joined forces with Sen. Dick Durbin (D-Ill.) to challenge the CFPB and President Biden’s Department of Transportation (DOT) to force the U.S. They decided to pursue the company. .
This is just the latest example of Sens. Marshall and Durbin’s determination to seek retribution against those who oppose the disastrous credit card bill.
Sens. Durbin and Marshall’s credit card bill proposes changing the current system by imposing significant government obligations on how credit cards are processed and introducing untested networks. The system may help corporate megastores cut costs, but it threatens the security of card benefits and consumer data at a time when Americans need financial peace of mind and even more security.
Many ordinary Americans, including Sen. Marshall’s constituents in Kansas, rely on credit card points to help with expenses, a feature often used by airlines. Airlines for America (A4A) and several airline unions have been vocal in their opposition to the Marshall-Durbin bill. Recently A4A published research He outlined the significant harm this bill would cause to the travel and tourism industry and the U.S. economy. According to A4A research: 30 million Americans rely on airline-affiliated cards Earn credit card rewards and frequent flyer miles. These credit cards allow Americans to earn points and miles that accumulate over time and give cardholders class upgrades, airport lounge access, excess baggage allowance, priority reservations, and even free air travel. You can receive useful benefits such as tickets.
A4A estimates that airline credit card benefits cover the trips of 15 million domestic travelers and represent $23 billion in economic activity in 2022 alone. Without these benefits, many Americans would not be able to afford to travel, impacting their quality of life and hurting the American economy. Thousands of Americans will lose their jobs, and cities and states that thrive on tourism will be hit hard. The last thing our country needs is for such an important industry to suffer a blow.
Instead of listening to the facts, Sens. Durbin and Marshall have added people and companies who dare to speak out to their target list for retaliation tours.
This tit-for-tat tour includes taking the airline industry to court before the CFPB and DOT. After CFPB Director Chopra met with Senator Durbin, the CFPB and DOT quickly announced a May 9 joint hearing on airline benefits and loyalty programs, claiming they needed to gather information. .
Sen. Marshall has proven that he chooses his political ambitions over the people he is elected to represent, and just a few months ago he called his bill unconstitutional in order to get revenge on those who criticized his bill. We have even partnered with government agencies.
Durvin Marshall’s credit card bill is dangerous and will harm ordinary Americans. Let’s be clear: Anyone who shows support for the senator’s dangerous weaponization of government against the American people is attacking the right to oppose bad policy.
