A credit card and banks group that’s been battling the Credit Card Competition Act has a new ad that hones in on just one of the bill’s backers: Senate Minority Whip Dick Durbin.
The Illinois Democrat is the lead sponsor of CCCA, a bill that banks and credit card companies despise but that retailers cheer. It’s aimed at reducing swipe fees by forcing companies like Visa and Mastercard to offer merchants a cheaper payments provider. Durbin had three Republican and two Democratic cosponsors on the bill last Congress.
But the Electronic Payments Coalition’s new spot – among a deluge of ads the group has run against CCCA – specifically makes a plea to Republicans to stop Durbin.
