Businesses would get more choices for processing credit card payments, potentially lowering transaction costs.
This bill would give businesses more control over how credit card payments are processed. It would stop large credit card companies from limiting choices for payment routing, which could lower transaction costs for stores and restaurants. The Federal Reserve would create new rules to carry this out.
Today, credit card companies can often limit how businesses process card payments, sometimes restricting transactions to a single network or a few affiliated ones. If this bill passes, the Federal Reserve would create rules to stop these restrictions. Businesses would then be able to choose from multiple networks for each credit card transaction, giving them more flexibility and potentially reducing their processing costs.
S 3623 · 119th Congress · January 13, 2026 · AI Summary by gemini-2.5-flash · 10/10
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87 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.