Van Pelt: Credit Card Fee Bill Hurts Small Businesses
By Evelyn Van Pelt
Every fall, thousands of Ole Miss sports fans travel to Oxford to cheer on the Rebels, bringing a wave of energy that few communities ever experience. They also bring an enormous economic boost to our community. Home football games at the University of Mississippi generated more than $325 million in economic spending during the 2024-25 season, helping support our local shops, restaurants, hotels, and other small businesses.
As the owner of a small, independent digital media business dedicated to covering Ole Miss sports news, I have a front row seat to this economic boom, and I know it wouldn’t happen without fans having the ability to afford the trip in the first place. And right now, Congress is debating a proposal that would make travel more expensive: the Durbin-Marshall credit card mandates.
This proposal would force banks to change how credit card transactions work by requiring that credit cards be issued on at least two payment networks, not just the ones we know and trust today. The lawmakers pushing this bill claim it will lead to lower card processing fees, but this is the kind of policy that sounds harmless in Washington but could hurt Main Street by slashing credit card rewards and endangering payment security.
The Durbin-Marshall credit card mandates would cut the revenue stream that funds an estimated $40 billion in rewards each year. These rewards are what make game-day trips, hotel stays, and local shopping trips affordable for families and fans traveling to Oxford. Without them, attending a game could become too expensive for many, reducing the number of visitors who cheer on our team and pack our hotels, restaurants, and shops each fall. That decline in tourism would ripple across the local economy, directly impacting the small businesses that depend on game weekends to thrive.
The Durbin-Marshall mandates also raise serious concerns about payment security. By forcing credit cards to be issued on several payment networks, the bill would expose local businesses and their customers to increased fraud risk. These new networks lack the same robust fraud prevention infrastructure that established payment networks have.
As a small business owner who depends on a reliable and secure payment system to process transactions, I know how essential it is to protect both customers and small businesses from fraudulent activity. Any move that could increase the risk of fraud, chargebacks, and data breaches is a move small businesses can’t afford.
Not only is this legislation dangerous, it’s also unnecessary. Visa, Mastercard, and a broad coalition of merchants—including thousands of small businesses— recently reached a major settlement that should significantly reduce swipe fees over the next several years. The agreement, which still has to be approved by a judge, creates transparency for small businesses and delivers $200 million in savings without risking the secure, reliable payment networks we count on.
Durbin-Marshall should have everyone who cares about Oxford’s economy paying close attention. The Durbin-Marshall mandates threaten to disrupt both tourism and local businesses that rely on game-day visitors. Senator Wicker and Senator Hyde-Smith: Please stand against Durbin-Marshall credit card mandates.
Note: Evelyn Van Pelt is founder/publisher of the online publication The Rebel Walk and is solely responsible for this article’s op-ed content.
