WASHINGTON, Jan. 20 -- Sen. Dick Durbin issued the following press release:
U.S. Senate Democratic Whip Dick Durbin (D-IL) today joined small business owners at Cafe Moxo in Springfield to discuss how his recently reintroduced bipartisan Credit Card Competition Act (https://www.durbin.senate.gov/newsroom/press-releases/durbin-marshall-reintroduce-the-credit-card-competition-act) will increase competition in the credit card market and put an end to the Visa-Mastercard duopoly that is squeezing small businesses-and, ultimately, consumers.
Today, Visa and Mastercard control about 85 percent of the credit card market and refuse to negotiate fair terms with Main Street merchants. Currently, the average American family pays nearly $1,200 per ye...