ICLE on CCCA’s Impact on Reward Cards

ICLE research was cited by Americans for Tax Reform in a recent letter about the Credit Card Competition Act. You can read the full piece here.

The mandates in the bill are so costly that more than $75 billion in rewards that consumers receive every year would largely disappear. According to the International Center for Law & Economics, “86% of credit cardholders have active rewards cards, including 77% of cardholders with a household income of less than $50,000.” The disappearance of rewards would likely harm minority communities and small businesses.