WASHINGTON — The Merchants Payments Coalition and hundreds of retail and business groups are urging the Senate Agriculture Committee to include the Credit Card Competition Act (CCCA) in pending cryptocurrency market-structure legislation, citing rising swipe fees and President Donald Trump’s recent endorsement of the measure.
In a letter sent to committee members, merchant organizations argued the legislation is needed to curb what they describe as excessive card fees imposed by major financial institutions and global payment networks. The groups emphasized that small retailers—operating on thin margins—are disproportionately harmed by ongoing increases in swipe fees.
Nearly 350 trade associations signed the letter, representing merchants in all 50 states and a broad cross-section of Main Street businesses, from independent neighborhood shops and family-owned retailers to large national chains. The Senate Agriculture, Nutrition and Forestry Committee is expected to consider the crypto bill during a voting session this week, where Sens. Roger Marshall (R-KS), Richard Durbin (D-IL), and Peter Welch (D-VT) are offering a CCCA amendment.
The committee’s action follows Trump’s endorsement of the CCCA earlier this month, when he said the legislation is needed “to stop the out of control Swipe Fee ripoff.” The measure was recently reintroduced in both the House and Senate, and the proposed amendment largely mirrors the bill’s framework, with one notable difference: enforcement would rely on antitrust law rather than Federal Reserve rulemaking.
Supporters argue the CCCA would apply only to large financial institutions with at least $100 billion in assets, exempting most community banks and all but one credit union. The proposal would require banks to enable credit cards to operate on at least two unaffiliated payment networks, increasing routing competition and potentially lowering costs. Merchant groups say swipe fees—up 70% since the pandemic and totaling a record $187.2 billion in 2024—have become one of their largest operating expenses and contribute to higher consumer prices, with estimated savings of $17 billion annually if competition expands.