An economist with the International Center for Law & Economics (ICLE) said that credit card regulations proposed in Congress would reduce competition among credit card issuers.
The managing editor of a financial services website wrote that opponents of credit card regulations proposed in Congress said the regulations could “torpedo” credit card rewards programs.
Glenn Grossman, the director of research at financial advisory firm Cornerstone Advisors, said the pending federal “Credit Card Competition Act of 2023” (CCCA) could lead to an increase in credit card fraud.