ICLE on How the CCCA Risks Rewards, Security, and Consumer Choice

ICLE is quoted in the American Bankers Association article on why the Credit Card Competition Act would harm consumers by reducing card choice and rewards, increased fraud risks, and primarily benefiting large retailers rather than households or small businesses. Read the full report here.

The International Center for Law and Economics found that “77% of cardholders with a household income of less than $50,000” have an active rewards card. Not only will consumers lose their valuable rewards programs, but the CCCA would negatively impact the U.S. economy as well.