Mastercard response to congressional letter on the Credit Card Competition ActSeptember 22, 2023
Mastercard wrote to several members of the U.S. Congress this week to highlight the harms the Credit Card Competition Act would bring to consumers, businesses of all sizes and financial institutions.
Today’s payments ecosystem enables consumers to make purchases safely and securely while gaining access to credit and valuable benefits like zero liability. These benefits are under attack.
The letter explains how the Credit Card Competition Act would remove consumer choice, erode security, eliminate rewards, and prevent small businesses from investing in their future.
Read the letter here.