Trump Urges Congress to Pass the Credit Card Competition Act
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AI-assisted source synthesis · not an independent investigation.
On October 10, 2026, Trump continued urging Congress to pass the Credit Card Competition Act. Reports said the bill would require cards issued by large banks to support at least two card networks. Recently, merchant lobbying groups supporting the bill, as well as banking and payments industry lobbyists opposing it, have been expressing their positions to White House officials and members of Congress. A White House spokesperson said the bill is intended to reduce swipe fees, claiming that such fees cost American households $1,200 per year.
AI-written from reports · updated 10 days ago
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- PYMNTSTrump urges Congress to pass the Credit Card Competition Act
Trump continues to urge Congress to pass the Credit Card Competition Act, which would require cards issued by large banks to support at least two card networks. Merchant lobbying groups supporting the bill, as well as banking and payments industry lobbyists opposing it, have recently been expressing their positions to White House officials and members of Congress. A White House spokesperson said the bill is intended to reduce swipe fees and said the related fees cost U.S. households USD 1,200 annually.