Overview
On January 30, 2024, Payments Dive quoted Stephen Aschettino in an article titled, "Payments regulation and legislation abound in 2024." The article discusses how payments players can expect this year to be heavy with regulatory and legislative moves, both at the federal and state levels.
Speaking about the Credit Card Competition Act sponsored by Senators Roger Marshall and Dick Durban, Stephen said, “This would break the near monopoly that Visa and Mastercard currently hold. It could lead to lower swipe fees, more competition, and lower prices for consumers. However, it is also possible that the Act could have unintended consequences, such as higher interest rates for consumers.”
