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S 4674 117th Congress Senate

Credit Card Competition Act of 2022

Official title: A bill to amend the Electronic Fund Transfer Act to require the Board of Governors of the Federal Reserve system to prescribe regulations relating to network c… Show full official titleShow less

Official title: A bill to amend the Electronic Fund Transfer Act to require the Board of Governors of the Federal Reserve system to prescribe regulations relating to network competition in credit card transactions, and for other purposes.

Introduced: July 28, 2022 Introduced by: Durbin, Richard J. Democratic · Illinois See on congress.gov
Finance and Financial Sector
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 28, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 28, 2022
Introduced in Senate
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 Latest action July 28, 2022

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Credit Card Competition Act of 2022

This bill addresses network access and competition in electronic credit transactions.

The bill generally prohibits credit card issuers from restricting the number of payment card networks on which an electronic credit transaction may be processed. Specifically, 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 credit card transactions may be processed to

  • one network,
  • two or more networks operated by affiliated networks or persons, or
  • the two networks with 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 provide for the designation of payment card networks that pose a security risk to the United States or are owned, operated, or sponsored by a foreign state entity.

 Related & companion bills 1
  • HR 8874 Identical bill Credit Card Competition Act of 2022
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 2

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

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 Cosponsors 1
All 1 Republican 1
R
Marshall, Roger
Kansas · Jul 28, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4674: Credit Card Competition Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-S-4674/
MLA
"S. 4674: Credit Card Competition Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-4674/.
Bluebook (legal)
S. 4674, 117th Cong. (2026), https://openamerica.io/bill/117-S-4674/.
Markdown link
[S. 4674: Credit Card Competition Act of 2022](https://openamerica.io/bill/117-S-4674/)
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