PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S2007-2008)
Congressional Research Service
Version 00 · Introduced in Senate · Jun 7, 2023
Credit Card Competition Act of 2023
This bill addresses network access and competition in electronic credit transactions.
The Board of Governors of the Federal Reserve System must prohibit certain credit card issuers with assets of over $100 billion from restricting the number of networks on which electronic credit card transactions may be processed. These transactions must be able to be processed on at least two networks and must not be restricted to networks (1) owned by or affiliated with the issuer, (2) designated as a national security risk, or (3) that have the largest market share of credit cards issued.
Additionally, credit card issuers are prohibited from imposing certain limitations on the routing of electronic credit transactions, such as through penalties for failure to meet a specified threshold of transactions on a particular payment card network.
The board must also designate payment card networks that pose a security risk to the United States or are owned, operated, or sponsored by a foreign state entity.
People & committees
Sen. Durbin, Richard J. [D-IL] · D–IL
Legislative record
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S2007-2008)
Introduced in Senate
Primary sources
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Source last updated: Dec 5, 2025. Consult Congress.gov for the current record.
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