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S. 1838 118th Congress Senate

Credit Card Competition Act of 2023

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: June 7, 2023 Introduced by: Richard J. Durbin Democratic · Illinois See on congress.gov
Finance and Financial Sector
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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
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S2007-2008)
Jun 7, 2023
Introduced in Senate
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 Latest action June 7, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S2007-2008)

 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.

 Related & companion bills 1
  • HR 3881 Identical bill Credit Card Competition Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 76

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

  • EMERGENT STRATEGIES
    for CAPITAL ONE FINANCIAL CORPORATION · Virginia · 3rd Quarter 2026 (July 1 - Sep 30)
  • CGCN GROUP, LLC
    for BANK POLICY INSTITUTE (FKA THE FINANCIAL SERVICES ROUNDTABLE) · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
  • S2R, LLC
    for NATIONAL ASSOCIATION OF CONVENIENCE STORES · Virginia · 3rd Quarter 2026 (July 1 - Sep 30)
  • BANK POLICY INSTITUTE
    for BANK POLICY INSTITUTE · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
  • 1607 STRATEGIES, LLC
    for CAPITAL ONE FINANCIAL CORPORATION · Virginia · 3rd Quarter 2026 (July 1 - Sep 30)
  • ELECTRONIC PAYMENTS COALITION INC.
    for ELECTRONIC PAYMENTS COALITION INC. · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 76 filings →
 Cosponsors 4
All 4 Democratic 2 Republican 2
D
Reed, Jack
Rhode Island · Feb 26, 2024
 R
Hawley, Josh
Missouri · Feb 12, 2024
 R
Marshall, Roger
Kansas · Jun 7, 2023
 D
Welch, Peter
Vermont · Jun 7, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1838: Credit Card Competition Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-S-1838/
MLA
"S. 1838: Credit Card Competition Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-1838/.
Bluebook (legal)
S. 1838, 118th Cong. (2026), https://openamerica.io/bill/118-S-1838/.
Markdown link
[S. 1838: Credit Card Competition Act of 2023](https://openamerica.io/bill/118-S-1838/)
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