"Man holding credit card. Top view from above." by Nenad Stojkovic is licensed under CC BY 2.0
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Grover Norquist, President of Americans for Tax Reform, participated in two discussions on credit card regulation at the American Legislative Exchange Council’s (ALEC) 2023 meeting in Orlando, Florida. The conversations underscored the detrimental impact of enhanced government regulation on credit card interchange fees at the expense of consumers. Legislative initiatives to regulate credit cards at the federal and state levels will largely result in the elimination of credit card rewards programs, and the degradation of competitive incentives to invest in improved cybersecurity for fraud protection. This is bad news for credit card users across the U.S.
On Thursday, July 27, 2023, Mr. Norquist participated in an interview on ALEC TV to discuss the impact of credit card regulation:
On Friday, July 28, 2023, Mr. Norquist participated in a plenary session to further address the impact of government intervention in the credit card market: