Reuters: US Senate chair wants airline, credit card CEOs to testify on fees

[Yawgoog]

"The chair of the Senate Judiciary Committee on Monday asked the CEOs of American Airlines, United Airlines, Visa, and Mastercard to testify at an April 9 hearing on credit card competition, according to letters seen by Reuters."

...

"In December, Reuters first reported the U.S. Transportation Department is scrutinizing the frequent flyer programs of major U.S. airlines for potential deceptive or unfair practices."

https://www.reuters.com/world/us/us-senator-wants-airline-credit-card-ceos-testify-fees-2024-02-12/

[CorpCrMgr1]

Thank you for sharing!

[Yawgoog]

The CEOs will not attend the hearing:

Airline, credit card CEOs refuse to testify at US Senate hearing
https://finance.yahoo.com/news/airline-credit-card-ceos-refuse-162909996.html

[CorpCrMgr1]

Subpoena time!

[Yawgoog]

The hearing is informational in nature, not investigatory, so subpoenas are unlikely.  If the CEOs are not attending, I'm guessing they are confident the bill will not pass.

[MarkintheHV]

I can understand why the CEO's do not want to attend when its optional.  The sponsoring senators have already made it clear where they stand (and its not good).  Also I read over 51 million has been spent on lobbying.  They have tried to get this inserted in other big spending bills, and it keeps getting taken out, so I would bet that there is not a lot of support for this.

[Yawgoog]

May 9: Airline frequent flyer programs subject of federal hearing on 'unfair or deceptive practices'
https://thepointsguy.com/news/dot-to-hold-hearing-frequent-flyer-programs/

"Delta Air Lines, for instance, has said that nearly 1% of the U.S. GDP is spent on its cobranded credit cards."