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Left to its own devices, the market has found an equilibrium between card issuers and merchants. Politicians who interfere bring about unpleasant surprises.
Central planning, never out of fashion on the left, is now more popular than ever on the right thanks to the GOP’s populist takeover. This is why a recurring effort to intervene in the credit-card processing market is finding more support in the new Congress than it did in the previous one. Interchange fees are […]
The Credit Card Competition Act of 2023 would give merchants network choice in processing transactions. It could impact consumers through lower rewards and security.
A recurring effort to intervene in the credit-card processing market is finding more support in the new Congress than it did in the previous one.