Businesses would get more choices for processing credit card payments.
This bill would give businesses more control over how credit card payments are processed. It would stop large banks and card networks from limiting routing options, aiming to increase competition.
Today, credit card issuers and payment card networks can restrict how credit card transactions are routed, potentially limiting options for businesses. This bill would stop large card issuers (those with over $100 billion in assets) and networks from restricting routing. This would give businesses more routing options and prevent penalties for choosing different networks. The Bureau of Consumer Financial Protection would also lose its enforcement authority for these specific rules.
HR 7035 · 119th Congress · AI Summary by gemini-2.5-flash · 8/10
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88 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.