Urge Lawmakers to Cosponsor “The Credit Card Competition Act”
Recently, Senators Richard Durbin (D-IL), Roger Marshall (R-KS), Peter Welch (D-VT) and J.D. Vance (R-OH) and Representatives Lance Gooden (R-TX), Zoe Lofgren (D-CA), Tom Tiffany (R-WI) and Jeff Van Drew (R-NJ) introduced the bipartisan “The Credit Card Competition Act of 2023” (S.1838; H.R. 3881). The legislation, which was introduced in the U.S. House and Senate, would simply require that credit cards issued by the largest U.S. banks have at least two unaffiliated card payment networks available to process transactions.