Two Key Senate Supporters of the Credit Card Competition Act CCCA to Leave Congress

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Roger Marshall and Dick Durbin, two key Senate supporters of the Credit Card Competition Act CCCA, will leave Congress, weakening the bill’s prospects for advancement in the next Congress. The bill would require credit card-issuing banks to offer alternative card networks beyond Visa and Mastercard to increase competition and lower merchants’ card payment processing fees. Supporters may still push the bill before the end of the current Congress, while opponents say it could affect consumer credit, data security, and credit card benefits such as cash back.