Credit-card rewards programs have long been a staple of the industry, but new legislation could lower the benchmark on such programs by tamping down on a revenue stream that helps fund them – the fees businesses pay to accept plastic.
In May, the Senate voted to limit interchange fees, transfer fees paid for by merchants to cardholders’ financial institutions each time shoppers pay with plastic. The measure was attached to the financial services reform legislation.
Although the House’s version of the bill doesn’t....