Last week, U.S. Senators Richard Durbin and Roger Marshall introduced a bill known as the Credit Card Competition Act of 2022. It would require financial institutions with more than $100 billion in assets to offer merchants much more say in how credit card transactions are routed. The bill stipulates that at least two unaffiliated networks must be available—and they can’t be Visa and Mastercard (the two largest credit card networks) together.
More Updates
Credit Card Routing Mandates Allow Big-Box Retailers to Take Billions from Small Businesses, Financial Institutions, and Consumers
Electronic Payments Coalition
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Financial Services Industry United in Opposition to Marshall-Durbin Credit Routing Legislation
Electronic Payments Coalition
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Press Releases / Statements
Why the Harmful Durbin Amendment Has to Go
Credit Union Times
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