Sep 22, 2023
With the availability of credit card rewards at stake under the Durbin-Marshall credit card bill, bill sponsor Sen. Roger Marshall dismisses consumer concerns about their rewards. “Rewards are for rich people,” Marshall said derisively at a Capitol Hill press conference on Wednesday in response to media questions about consumers’ preferences.
Facing Marshall at the press conference just happened to be nearly 50 bankers from his home state of Kansas, in D.C. for their annual Washington Visit. On the latest episode of the ABA Banking Journal Podcast — presented by Servbank — three leaders from that delegation reflect on the press conference and what they heard. The podcast guests also discuss the urgency of banker advocacy on Durbin-Marshall, as its sponsors seek to attach it to other legislative vehicles, and they debunk false talking points to show that consumers and small businesses of all income levels use and benefit from credit card rewards. They also illuminate the stakes of the Durbin-Marshall debate for everyday credit card users.