Should Congress force competition in credit card swipe fees?
The Credit Card Competition Act (S. 3623) would require the largest card-issuing banks to enable at least two unaffiliated networks to route credit card transactions, breaking Visa and Mastercard's control over the 2-3% "swipe fees" merchants pay on every sale. Retailers are pushing for a 2026 vote while the card industry spends heavily to stop it — one of the hottest lobbying fights of the summer. Supporters say competition would save consumers billions in passed-through fees; opponents say it would gut card rewards and weaken security. Where do you stand?
Weigh in
The case for
Retailers argue U.S. swipe fees are the highest in the industrialized world because two networks control routing, and that competition would save merchants and consumers billions now baked into the price of everything.
Source: National Retail Federation →The case against
The payments industry argues routing mandates would gut the card rewards programs consumers value, push transactions onto less secure networks, and hand the savings to big-box retailers rather than shoppers — pointing to the debit-fee experiment that produced little consumer benefit.
Source: Electronic Payments Coalition →My Democracy doesn’t take a side — you choose your position below, and your message carries it. Sources represent one organization on each side; they don’t reflect My Democracy’s position.
This campaign is about this bill
S. 3623: Credit Card Competition Act of 2026What it does
This bill would require large banks to allow credit card transactions to be processed over at least two competing networks, rather than exclusively through the networks chosen by Visa or Mastercard.
Latest action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Jan 13, 2026)
10 more to reach 10
Take Action
What’s your position?
Both sides are laid out above. Your message will carry your position — My Democracy doesn’t take a side.