Durbin Discusses Credit Card Competition With Small Businesses

SPRINGFIELD — U.S. Sen. Dick Durbin met with small business owners in Springfield last week to discuss his reintroduced bipartisan Credit Card Competition Act, which he said would increase competition in the credit card market and reduce costs for merchants and consumers. Durbin cited the dominance of Visa and Mastercard, which control about 85 percent of the market, and rising swipe fees paid by families and businesses. He was joined by local business owners and representatives of the Illinois Retail Merchants Association.