Capital Corner: Items moving through Congress

Congress and regulators are moving forward with a list of items on the “to-do” list as the calendar turned to May. It’s accepted wisdom that not much will be done after July in an election year…but we’ll see.

One of the talking points against the retailer-backed Credit Card Competition Act—that airline rewards points would be jeopardized by diminished credit card fees—was the focus of a CFPB forum May 9.

The event, also involving Transportation Secretary Pete Buttigieg, probed airline and credit card rewards programs and featured panelists from Apple Federal Credit Union, and several labor and consumer groups. Federal officials said they were aiming to gain insight about whether more action is needed to control prices.

This session shows the merchants and their congressional allies desperately trying to create momentum around the stalled effort to impose price controls on the credit card market.


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