I'm no mathematician, but I think the big banks have plenty of revenue left to continue offering rewards without hurting their bottom lines. And for those of you who are worried about your airline miles or cash back, An analysis by payments consulting firm CMSPI found that rewards would be reduced by less than 1/10 of 1% at most because of the Credit Card Competition Act. So the crying wolf. This bill has the support of conservative Republican Senator from Kansas, Senator Marshall, a liberal Democrat, Peter Welsh from Vermont and myself. (13:24–13:38)
CLAIM
Asserts that CMSPI analysis shows minimal impact on rewards due to the Credit Card Competition Act.
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