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HR 3881 118th Congress House Finance and Financial Sector

Credit Card Competition Act of 2023

Introduced: September 26, 2023 Introduced by: Gooden, Lance Republican · Texas See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Jun 7, 2023
Referred to the House Committee on Financial Services.
Jun 7, 2023
Introduced in House
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 Plain-English summary Congressional Research Service

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.

What's happening now June 7, 2023

Referred to the House Committee on Financial Services.

 Related & companion bills 1
  • S 1838 Identical bill Credit Card Competition Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 41

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

See all 41 filings →
 Cosponsors 8
All 8 Democratic 4 Republican 3
D
Pingree, Chellie
Maine · Jun 7, 2024
 D
Thanedar, Shri
Michigan · Sep 28, 2023
 D
McGovern, James P.
Massachusetts · Sep 27, 2023
Good, Bob
· Sep 26, 2023
 R
Miller, Max L.
Ohio · Jul 18, 2023
 D
Lofgren, Zoe
California · Jun 7, 2023
 R
Tiffany, Thomas P.
Wisconsin · Jun 7, 2023
 R
Van Drew, Jefferson
New Jersey · Jun 7, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3881: Credit Card Competition Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-3881/
MLA
"H.R. 3881: Credit Card Competition Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-3881/.
Bluebook (legal)
H.R. 3881, 118th Cong. (2026), https://openamerica.io/bill/118-HR-3881/.
Markdown link
[H.R. 3881: Credit Card Competition Act of 2023](https://openamerica.io/bill/118-HR-3881/)
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