'Swipe Fees’ Bill Introduced as GENIUS Act Amendment, Spurring Lobbying Battle

'Swipe Fees’ Bill Introduced as GENIUS Act Amendment, Spurring Lobbying Battle

💡Share this on Bluesky and XA bill that aims to reduce credit card “swipe fees” has long been stuck in Congress, where the bipartisan legislation is opposed by the formidable banking industry lobby. Visa and Mastercard dominate credit card processing, with control of roughly 80% of the market.This week, the Credit Card Competition Act (CCCA)’s primary sponsors, Sen. Richard Durbin (D-Ill.) and Sen. Roger Marshall (R-Kans.), introduced it as an …