ICLE on Rewards Cards
RealClearMarkets – An ICLE report on payment-network interchange fees and rewards-card programs was cited in a RealClearMarkets op-ed about potential credit-card regulations. You can read full piece here.
As the International Center for Law & Economics points out, “Every rewards card, from airlines to entertainment, would likely disappear.”
…Government regulation of the credit card market will significantly harm lower-income Americans. Lower-income Americans use rewards cards. 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.”