Potential Credit Card Competition Act (CCCA) Vote in the US Senate as Soon as This Week

The US Senate held a procedural vote on Monday that begins Floor consideration of the GENIUS Act (S. 394)—legislation focused on regulating payment stablecoins. An agreement was reached to allow amendments, which will allow the Credit Card Competition Act (CCCA)—sponsored by Senators Roger Marshall (R-KS) and Dick Durbin (D-IL)—to be introduced as an amendment to the bill.

What is the CCCA?
The CCCA would increase competition in the credit card processing market to drive down exorbitant swipe fees, improve credit card security and innovation, and save US businesses and consumers more than an estimated $16 billion a year.

Interchange fees—set by just two dominant networks (Visa and Mastercard) that control over 80% of the market—have more than doubled in the past decade. Today, swipe fees are one of the highest operating costs for restaurants, behind food and labor.

This duopoly uses its market power to block alternative routing options, leaving businesses with no ability to negotiate the fees they must pay. Swipe fees now range from 2% to 4% of every transaction, making them the highest in the industrialized world. In 2024 alone, US businesses and consumers paid more than $187 billion in swipe fees, costing the average American family approximately $1,200.

The bipartisan, bicameral CCCA would require the nation’s largest banks to enable at least two credit card processing networks—one from the existing duopoly, and one from an alternative, independent network—to facilitate credit card payments.This would empower operators to choose between more secure and cost-effective networks when processing credit card transactions. This bill has been heavily opposed by the credit card companies and banking industries.

What’s Next?
The Wisconsin Restaurant Association, along with the National Restaurant Association and other state restaurant associations, have sent a letter to all US Senators encouraging them to support the CCCA amendment to the GENIUS Act. Watch the National Restaurant Association's 90-second video update here.

You can help make this change happen! Click here to reach out to Wisconsin's two US Senators to encourage their support.

Questions? Contact us!

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