Understanding the Credit Card Competition Act a/k/a Durbin 2.0

October 19, 2023
Subscribe and Listen
listen on apple podcasts listen on google podcasts listen on spotify

Our special guest is Zarik Khan, Founder and Managing Director of Finsolute Advisors. Congress is now considering whether to enact the CCCA, a bill that would require credit card issuers with assets over $100 billion to include at least two possible network processors on each card. We first look at the roles of the various parties involved in a typical transaction in which a consumer makes a purchase from a merchant using a credit card. We then discuss how the CCCA requirement for at least two networks would operate, its potential implications for smaller banks and credit unions, and its implications for each of the parties involved in a typical credit card transaction. After discussing the bill’s political prospects, we assess the principal arguments made in support of or opposition to the bill, including the arguments made by the bill’s opponents that the CCCA will reduce access to consumer benefits such as rewards programs and zero fraud liability protection.

Alan Kaplinsky, Senior Counsel in Ballard Spahr’s Consumer Financial Services Group, hosts the conversation.

View the recording transcript here. 

Subscribe to Ballard Spahr Mailing Lists

Get the latest significant legal alerts, news, webinars, and insights that affect your industry. 

Copyright © 2024 by Ballard Spahr LLP.
(No claim to original U.S. government material.)

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.

This alert is a periodic publication of Ballard Spahr LLP and is intended to notify recipients of new developments in the law. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.