A bipartisan legislative coalition, led by Senator #DickDurbin (D-IL) and Senator #RogerMarshall (R-KS) have proposed the #CreditCardCompetitionAct (#CCCA), which will force competition into credit-card routing, putting pressure on the Visa/Mastercard duopoly:
https://www.congress.gov/bill/118th-congress/senate-bill/1838/text?s=1&r=3
This should be a no-brainer, but plute spin-doctors have plenty of no-brains to fill up with culture war bullshit.
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Writing in *#TheAmericanProspect*, #LukeGoldstein unpacks an #astroturf campaign to save the endangered swipe fee from woke competition advocates:
https://prospect.org/power/2023-08-04-wall-street-culture-war-swipe-fee-reform/
Now, this campaign isn't particularly sophisticated. It goes like this: #Target is a big business that runs a lot of transactions through Visa/Mastercard, so it stands to benefit from competition in payment routing.
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And Target did a mean woke by selling #Pride merch, which makes them #groomers. So by fighting swipe fees, Congress is giving woke groomers a government bailout!
It's literally that stupid. It's being pushed by a dark money group based in Kansas, which is targeting Senator Marshalls constituents with mailers that warns voters they'll "lose their credit card points" because he's thrown his lot in with "liberal politicians":
https://punchbowl.news/caf-marshall-mailer-kansas/
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