Could New Legislation Hurt Your Credit Card Rewards?

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 Here’s everything you should know about the Credit Card Competition Act. fizkes / Shutterstock.com

A group of lawmakers and lobbyists is gearing up to battle over a proposal that could change the way credit card transactions get processed in the U.S. — and possibly upend the credit card rewards system. The Credit Card Competition Act was introduced last week by a bipartisan group of legislators led by Sen. Dick Durbin, D-Ill. (He also proposed the bill last year, though it didn’t go anywhere.)…

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