The Credit Card Competition Act is still a bad idea - Americans for Tax Reform

The Credit Card Competition Act is still a bad idea - Americans for Tax Reform

Senator Dick Durbin (D- Ill.) is reportedly looking to reintroduce the Credit Card Competition Act. Americans for Tax Reform remains opposed to this bill to impose price controls on card networks, whether it is considered by itself or as part of a larger legislative package. The CCCA gives the Federal Reserve the power to pick winners and losers, which is anathema to free-market policy. Why should we give the Fed more regulatory authority—which …