Congressman Lance Gooden (R-TX) has reintroduced the bipartisan Credit Card Competition Act (CCCA), aiming to address concerns over high credit card swipe fees charged by major financial networks. The legislation, which is also supported in the Senate, seeks to require banks with assets exceeding $100 billion to enable a second competitive network on each card. Supporters say this move will foster competition and help reduce costs for consumers and small businesses.
The bill comes after former President Donald Trump publicly endorsed the measure, stating the need to “stop the out of control Swipe Fee ripoff.”
“Credit card companies have been raking in record profits at the expense of Main Street America. I thank President Trump for fighting for hardworking Americans,” said Rep. Gooden.
The proposed act includes provisions intended to safeguard U.S. payment systems by preventing foreign government-backed or national security-risk networks from being used as routing options on credit cards. It also aims to strengthen cybersecurity by ensuring there is a backup payment network if Visa or Mastercard faces a cyberattack.
Congresswoman Zoe Lofgren (D-CA) is co-leading the bill in the House, while Senators Roger Marshall (R-KS) and Dick Durbin (D-IL) are leading its companion in the Senate.
“The average American household is paying over $1,000 each year on credit card swipe fees, the highest in the world. Right now, just two major credit card companies are setting swipe fees for the nation’s largest banks, crushing consumers and small businesses. Our bipartisan Credit Card Competition Act will provide needed relief by fostering competition, lowering prices for everyone. I’m proud to re-introduce this bill with my House and Senate colleagues,” said Rep. Lofgren.
Senator Marshall added: “The average American family is being ripped off by Big Banks, who profit billions from swipe fees while hardworking Americans pay the price. It’s time to bring real competition to a credit card network market dominated by Visa and Mastercard — and drive down the cost of everyday goods,” he said. “The American Dream doesn’t work when the system is rigged, and this bill helps level the playing field. I’m grateful to have President Trump’s support, and I look forward to working with Senator Durbin to get this across the finish line.”
Senator Durbin stated: “Americans are struggling with everyday purchases like groceries and gas, and credit card swipe fees inflate those already exorbitant prices,” he said. “By bringing real competition to credit card networks, which is currently dominated by the Visa-Mastercard duopoly, we can reduce swipe fees and hold down costs for Main Street merchants and their customers. Let’s pass the Credit Card Competition Act as soon as possible.”
Industry groups such as the Retail Industry Leaders Association (RILA), National Association of Convenience Stores (NACS), and National Retail Federation (NRF) have voiced support for the CCCA.
Austen Jensen of RILA commented: “Competition is at the heart of the American economy — it sparks innovation and gives consumers better prices, products and services. But when it comes to payments, a lack of competition is weighing everyone down. Merchants and consumers alike are feeling the pinch from ever-rising swipe fees. Competition isn’t just about the fees, it’s about innovation and ingenuity, two bedrocks of the American system that our current payment arena lacks,” he said. “Addressing the lack of competition must be a key focus on Capitol Hill. It’s a rare opportunity for bipartisanship. Passing the Credit Card Competition Act (CCCA) would be a big win for consumers and Main Street businesses across the country and send a powerful message that Wall Street doesn’t own Washington.”
Doug Kantor from NACS noted: “We applaud Senators Marshall and Durbin, and Representatives Gooden and Lofgren for their tireless work to deal with the credit card swipe fees that burden working Americans and Main Street by fanning the flames of inflation,” he said. “The average family pays $1,200 more each year to cover these fees by price-fixing the fees. It’s time to pass the Credit Card Competition Act to bring fairness and competition to the broken credit card system.”
The NRF stated: “NRF commends Senators Roger Marshall, R-Kan., and Dick Durbin, D-Ill., and Representatives Lance Gooden, R-Texas, and Zoe Lofgren, D-Calif., for their steadfast leadership in challenging the credit card swipe fee duopoly. The Credit Card Competition Act is essential to leveling the playing field for millions of American businesses that currently lack any control over the non-negotiable fees tied to every card transaction. By fostering much-needed competition, this bipartisan legislation will provide direct relief to both retailers and consumers, ensuring the industry can continue delivering quality products at affordable prices. We urge Congress to move swiftly to pass this bill and protect the American economy from escalating swipe fees.”
Gooden has previously introduced similar versions of this bill during past congressional sessions.
Lance Gooden has held his seat since 2018 after defeating Dan Wood in that year’s general election with 62% of votes compared to Wood’s 37%. He maintained his position through subsequent elections against Carolyn Salter in 2020 (winning 62%–35%), Tartisha Hill in 2022 (64%–33%), and Ruth Torres in 2024 (64%–35%).
For more information on this legislation visit https://gooden.house.gov/2026/1/gooden-reintroduces-trump-endorsed-credit-card-competition-act
