Get the facts
Senators Durbin (D-IL) and Marshall (R-KS) introduced S. 1838, allowing mega-stores like Walmart and Target to process credit card transactions based solely on what is cheapest for them, disregarding what’s best for your data security.
The Durbin-Marshall interchange bill would shift billions in consumer spending to less secure, less innovative, and higher-risk payment networks that would weaken America’s payment system and put consumers in a vulnerable position.
The top reason consumers select a credit card over other forms of payment is security. Credit cards issued by Visa and MasterCard offer zero liability when a transaction on their branded card is processed on their network. Recent studies show that the top reason (79%) consumers choose their credit card is based on data security.
After Senator Durbin passed similar routing mandates for debit cards in 2010, the fraud rate for debit cards increased by NEARLY 60% in subsequent years. A similar outcome for credit cards would likely cost OVER $6 BILLION in additional fraud and likely require passing much of the bill onto consumers.
