Credit Card Processing Reform Could Be Voted On This Week – Take Action!


A vote on the Credit Card Competition Act could be expected to happen as early as this coming Wednesday, July 26. NACS is calling on each and every member of our industry to immediately contact their Senators and demand they vote for the bill.

Bipartisan legislation was introduced in both the U.S. House and Senate on June 7 to create choice for the processing of credit card purchases and address swipe fees, which has been championed by NACS and its members for more than two decades. This week, Senators Richard Durbin (D-IL) and Roger Marshall (R-KS) filed their swipe fee bill, the Credit Card Competition Act, as an amendment to the National Defense Authorization Act (NDAA), which the Senate is expected to vote on this week.

However, the situation is very fluid, and it is not currently clear that there will be a vote. Senators Durbin and Marshall continue to push hard for the amendment to remain attached to the NDAA, and grassroots is desperately needed. The banks have been spending millions this week alone in order to block a vote—the president of the American Bankers Association has even said that they “will spend whatever is needed” to block a vote on the CCCA. NACS is calling on industry advocates to reach out to their Senators as soon as possible and demand a vote on the bill.

The National Defense Authorization Act authorizes Department of Defense activities for the fiscal year and addresses other issues of importance to national security, and the Credit Card Competition Act addresses important national security issues. If passed, Senators Durbin and Marshall’s amendment would require the largest U.S. banks that issue Visa or Mastercard credit cards to allow transactions to be processed over at least two unaffiliated card payment networks, effectively providing a safety net to our payments system in case of any hacks or payment outages. It would also close a glaring security gap by blocking networks supported by foreign governments like China UnionPay from entering the U.S. market.

Please contact your Senators now and tell them a vote is needed on the NDAA that includes the Credit Card Competition Act. Swipe fees for convenience stores have risen by 82% since the beginning of 2020, and retailers are asking for the same competition in routing options that they face every day serving communities across the country. Senators Durbin and Marshall told NACS that they remain committed to our industry and believe a vote through the NDAA the best opportunity for a floor vote and continued progress with this legislation.