* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, July 12, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    How you can see new movies early – Yahoo

    Unlock the Secret to Watching New Movies Before Everyone Else!

    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    How you can see new movies early – Yahoo

    Unlock the Secret to Watching New Movies Before Everyone Else!

    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

A new bill in Congress is going to ‘kill’ card rewards programs, says United CEO

October 25, 2023
in Business
A new bill in Congress is going to ‘kill’ card rewards programs, says United CEO
Share on FacebookShare on Twitter

United CEO Scott Kirby says a new bill in Congress is putting miles programs on the chopping block.The Credit Card Competition Act, proposed by Sen. Dick Durbin, seeks to lower card swipe fees.But Kirby said lower revenues for Visa and Mastercard would make them stop offering reward points.

Loading
Something is loading.

Thanks for signing up!

Access your favorite topics in a personalized feed while you’re on the go.

By clicking “Sign Up,” you also agree to marketing emails from both Insider and Morning Brew; and you accept Insider’s Terms and Privacy Policy. Click here for Morning Brew’s privacy policy.

United Airlines CEO Scott Kirby warned last week that airline customers could start seeing their miles programs disappear because of a new bipartisan congressional bill on credit card swipe fees.

“This would kill rewards programs,” United CEO Scott Kirby said in an October 18 earnings call. “It would not exist anymore. It will kill debit card rewards programs when it happens, and I think it’s bad policy.”

The Credit Card Competition Act, proposed by Sen. Dick Durbin of Illinois, seeks to end what Durbin calls a “Visa-Mastercard duopoly” over credit card transactions.

Together, Visa and Mastercard control 80% of US credit card payments, and charge merchants transaction fees of around 2 to 3%, according to a summary of the bill. Retailers and businesses tend to pass the cost of those swipe fees on to their customers, resulting in higher prices for consumers.

Durbin, a Democrat lawmaker who introduced the bill in June, aims to require big US banks to allow at least one other payment network besides Visa or Mastercard to be used in credit card transactions.

The hope here is to introduce competition that would compel the payment giants to lower their fees.

The bill was originally introduced by Durbin in the previous Congress in 2022, though it never came to a vote. Now, it’s been re-introduced with growing bipartisan support, including Republican and Democrat co-sponsors in the Senate and House.

But several airlines, which partner with banks to issue miles or loyalty reward points, say the bill will cut Visa and Mastercard’s revenues and make them less willing to participate in rewards programs.

Delta Air Lines CEO Ed Bastian told Bloomberg that he predicted banks would stop such partnerships if the bill passed, resulting in “unbelievable” consumer backlash.

“These cards could no longer receive the funding to be able to invest in rewards-back opportunities. It’s something that we’re watching, obviously,” he told the outlet.

In the United earnings call, Kirby criticized Durbin’s bill, saying the vast majority of US consumers are on at least one rewards program.

“Almost everyone has one,” he said. “And they like them a lot. Our customers certainly like them a lot. And so I think it’d be hard in Congress to take a vote that 84% of your voters are going to be upset with the outcome of that vote.”

The death of loyalty programs would also cut deep into airlines’ profits.

US carriers that partner with credit cards to offer points or miles programs often get paid each time a customer uses these cards, generating billions in revenue.

Still, supporters of the Credit Card Competition Act say it will create $15 billion in savings for retailers, restaurants, small businesses, and their customers every year. They also argue that big banks will continue to offer reward programs after the bill is passed.

Notably, the European Union already places a hard cap on credit card transaction fees at 0.3%. European banks and airlines still offer points and miles programs to customers.

Durbin did not immediately respond to a request for comment sent outside regular business hours.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Business Insider – https://www.businessinsider.com/congress-billcredit-card-fees-kill-flier-miles-united-scott-kirby-2023-10

Tags: businessCongressGoing
Previous Post

Tesla Cybertruck delivery date: What to know about the truck’s release, price, and specs

Next Post

The CEO of 1-800-Flowers says he got the best business advice from JPMorgan’s Jamie Dimon

Pope prays for conversion of those who don’t ‘recognize the urgency’ of caring for creation – OSV News

Pope prays for conversion of those who don’t ‘recognize the urgency’ of caring for creation – OSV News

July 12, 2025
New, non-profit in Baldwin County aims at helping fund forensic science related investigations – fox10tv.com

New, non-profit in Baldwin County aims at helping fund forensic science related investigations – fox10tv.com

July 12, 2025
Major Gifts Transform Marine Science at William & Mary and VIMS – Virginia Living

Transformative Major Gifts Propel Marine Science Breakthroughs at William & Mary and VIMS

July 12, 2025
CatanaGroup Launches SEATY: A New Floating Lifestyle Concept – Cruising World Magazine

CatanaGroup Unveils SEATY: Dive Into the Ultimate Floating Lifestyle Experience

July 12, 2025
Readers, we need your help picking the best high school football team – Tulsa World

Vote Now for the Ultimate High School Football Champion!

July 12, 2025
An economy in India lifted by women – The Christian Science Monitor

An economy in India lifted by women – The Christian Science Monitor

July 12, 2025
How you can see new movies early – Yahoo

Unlock the Secret to Watching New Movies Before Everyone Else!

July 12, 2025
Why it’s a rough time to be a health insurer – Axios

Why it’s a rough time to be a health insurer – Axios

July 12, 2025
State Department is firing more than 1,300 staff on Friday – CNN

Over 1,300 State Department Employees Face Layoffs This Friday

July 12, 2025
Southland Conference and Spiideo Partner to Bring Cloud-Based Replay and Video Technology to Seven Sports – Sports Video Group

Southland Conference Partners with Spiideo to Transform Replay and Video Technology Across Seven Sports

July 11, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (717)
  • Economy (740)
  • Entertainment (21,627)
  • General (15,847)
  • Health (9,777)
  • Lifestyle (747)
  • News (22,149)
  • People (742)
  • Politics (750)
  • Science (15,958)
  • Sports (21,238)
  • Technology (15,724)
  • World (723)

Recent News

Pope prays for conversion of those who don’t ‘recognize the urgency’ of caring for creation – OSV News

Pope prays for conversion of those who don’t ‘recognize the urgency’ of caring for creation – OSV News

July 12, 2025
New, non-profit in Baldwin County aims at helping fund forensic science related investigations – fox10tv.com

New, non-profit in Baldwin County aims at helping fund forensic science related investigations – fox10tv.com

July 12, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version