Durbin, Marshall Reintroduce CCCA After Trump Endorsement Shifts Capitol Hill Math
By CU Today Staff —
WASHINGTON—Sens. Dick Durbin (D-IL) and Roger Marshall (R-KS) formally reintroduced the Credit Card Competition Act (CCCA) on Tuesday, a move that followed CUToday.info’s early-morning report suggesting the long-stalled bill had gained new momentum after President Donald Trump publicly endorsed it.
The reintroduction came just hours after Trump urged support for Marshall’s proposal in a Truth Social post, a development advocates say has rapidly shifted the political landscape around credit-card fees and market regulation on Capitol Hill.
Credit-union advocate John McKechnie said the timing was no surprise, warning that the President’s comments have already altered the debate in Washington well beyond this single bill.
"There's a consensus on Capitol Hill that the president's comments (around a 10% cap on credit card interest) have changed the debate on credit card fees generally. There isn't a consensus, however, as to where the ball will bounce from here," McKechnie told CUToday.info earlier this week. "Republicans, who are instinctively averse to government intervention in the market, are taking a second look at the issue; one senior Republican Senate Banking Committee staffer said she thought that a few days ago, zero Senate Republicans would vote for any kind of fee caps. Now she says several senators are up for grabs. And it's solely because of the President's statement.”
Durbin and Marshall said the Credit Card Competition Act would increase competition in the credit-card market by requiring large banks—those with more than $100 billion in assets—to offer merchants at least two unaffiliated card networks, including one outside the Visa-Mastercard system. According to Durbin’s office, Visa and Mastercard currently control roughly 85% of the credit-card market, while the average American family pays nearly $1,200 a year in swipe fees.
“Americans are struggling with everyday purchases like groceries and gas, and credit card swipe fees inflate those already exorbitant prices,” Durbin said in a statement. “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.”
Marshall echoed that argument, crediting Trump’s backing for accelerating momentum behind the legislation.
“The American Dream doesn’t work when the system is rigged,” Marshall said, adding that the bill would “level the playing field” for consumers and small businesses.
CUToday.info reported Tuesday morning that Trump’s endorsement could reshape the political math around interchange fees, reviving a bill that has repeatedly stalled despite bipartisan sponsorship. Analysts and payments experts told CUToday that the moment reflects mounting pressure on the payments ecosystem, even as the end result remains uncertain.
Defense Credit Union Council Chief Advocacy Officer Jason Stverak said Trump’s endorsement and the bill’s reintroduction do not change fundamental concerns about the legislation’s impact on military communities.
“Regardless of President Trump's announcement, CCCA/Marshall-Durbin is still deeply flawed legislation,” Stverak said. “We have not had a hearing on the bill and before we attempt to dramatically alter the highly successful and secure payments system in the United States we should make sure that all of these discussions happen in Congress. This support does not change the fact Marshall-Durbin will dramatically hurt defense credit unions’ ability to provide access to credit for young military members and their families and not give them the resources they need to serve the military communities.”
In additional comments Tuesday, DCUC reiterated its opposition, arguing the bill would undermine fraud prevention, cybersecurity protections, and access to affordable credit—particularly for younger servicemembers and military families—while delivering no proven consumer benefit.
McKechnie said the reintroduction marks a pivotal moment for credit unions as the debate intensifies.
"After the events of the last couple days it's not surprising to see CCCA reintroduced," he said. "Everybody in Washington knew this was coming, or at least they should have. The question for credit unions is: What do we do now that there appears to be a full-frontal assault on credit card revenue? My first suggestion is that we must be even more assertive in telling the real truth about these price caps. They don't withstand scrutiny when you hold them up to the light of day. Consumers won't benefit, and in fact there will be real damage done if Congress goes down this road."
Originally reported by CU Today.