ATLANTA, Georgia—AAHOA (Asian American Hotel Owners Association) issued a statement in which it applauded the bipartisan reintroduction of the Credit Card Competition Act in Congress. The legislation was reintroduced in the Senate by Sens. Roger Marshall (R-KS) and Richard Durbin (D-IL), and in the House by Reps. Lance Gooden (R-TX) and Zoe Lofgren (D-CA). The bill was endorsed by President Trump.
The legislation would introduce competition into a credit card market dominated by Visa and Mastercard, helping to curb excessive swipe fees that continue to drive up costs for small businesses and consumers.
AAHOA represents nearly 20,000 hotel owners who own approximately 60 percent of U.S. hotels, employ more than 1 million people, and generate over $100 billion in annual tax revenue. Many AAHOA Members are small, family-owned businesses that are disproportionately impacted by rising swipe fees.
“Uncontrolled swipe fees are a growing burden for hotel owners and small businesses nationwide,” said AAHOA Chairman Kamalesh (KP) Patel. “The Credit Card Competition Act is a practical, bipartisan solution that restores competition and helps owners better manage costs.”
“We thank Senators Marshall and Durbin and Representatives Gooden and Lofgren for their leadership and persistence on this issue, and we appreciate President Trump’s endorsement of this bill today,” said AAHOA President and Chief Executive Officer Laura Lee Blake. “AAHOA urges Congress to move quickly to pass this legislation and deliver relief to Main Street businesses.”
