Great Lakes Wire

Larry Jackson, chairman of the Ottawa County Democratic Party, expressed concerns regarding the proposed Durbin-Marshall bill, suggesting it would disadvantage average Michigan families by primarily benefiting large national retailers. His statement was made in an op-ed.

"Let's be clear: This bill doesn't benefit the average Michigan family," said Jackson. "It benefits the biggest national retailers who want to cut their costs without passing a dime in savings on to consumers. Meanwhile, families in Ottawa County and across Michigan would lose out on rewards and be exposed to greater financial risk."

Senate Bill 1838, introduced in the 118th Congress, aims to address consumer protections related to retail transactions, with a focus on transparency in how retailers manage costs and consumer benefits. The bill has sparked debate over its potential impact on local economies versus national retailers. Proponents argue it will streamline costs, while opponents worry about reduced consumer rewards.

According to the Consumer Financial Protection Bureau (CFPB), deceptive practices related to credit card rewards have been addressed, highlighting issues where companies advertise rewards that are not fully delivered. The CFPB noted that such practices can mislead consumers and cause financial harm. The bureau continues to take enforcement actions to ensure transparency and fairness in financial services.

The "Protect Our Points" initiative states that proposed legislative changes could affect credit card reward programs commonly used by Michigan consumers. According to the campaign, these changes may reduce the value of loyalty points and impact consumer savings. The initiative seeks to maintain the current structure of rewards to benefit everyday users.

Jackson has been actively involved in community and political efforts within Ottawa County, advocating for financial literacy and support for working families. He previously ran for state representative, focusing on economic justice and community support.