ABA poll reveals major bank policy issues

A new poll conducted by the Morning Consult on behalf of the American Bankers Association revealed that most U.S. consumers are satisfied with their choice of credit cards and do not want the government involved in credit card rewards programs.

The survey found 95% of consumers said they value the convenience of their credit cards, and 79% have at least one credit card that offers rewards. Roughly 88% of consumers said they value the credit card rewards.

“This new survey data reaffirms that consumers greatly value their credit cards, and they don’t want to lose the benefits they offer due to government intervention,” said Rob Nichols, ABA president and CEO. “New government mandates would jeopardize our secure payments system and the popular fraud protections and rewards programs that come with credit cards. At a time when consumers are already contending with higher retail prices, that would be a mistake.”

See more of the survey results here.