FOR IMMEDIATE RELEASE
Contact: J. Craig Shearman
(202) 257-3678 craig@shearmancommunications.com
WASHINGTON, June 4, 2025 – The Merchants Payments Coalition today welcomed the endorsement of the Credit Card Competition Act by four of the nation’s largest unions – the International Brotherhood of Teamsters, the Retail, Wholesale, Department Store Union, the Service Employees International Union and the United Food & Commercial Workers International Union.
“All unions know that working people are reeling from an affordability crisis on everyday goods,” the unions said in a joint letter to Senators Roger Marshall, R-Kan., and Richard Durbin, D-Ill., the lead sponsors of the CCCA. “We embrace the Credit Card Competition Act as a means to return more buying power to hard working Americans by curbing the outrageous rise in fees charged by Visa and Mastercard to merchants in the United States.”
The letter comes as Marshall and Durbin are seeking a vote on an amendment they filed last month to make the CCCA part of the GENIUS Act, a bill under consideration by the Senate that would establish a regulatory framework for stablecoins. MPC has endorsed the amendment, saying the CCCA and stablecoins would complement each other in bringing competition to the U.S. payments system.
“These unions represent millions of members across the country and their endorsement makes it clear that people who work for a living want Congress to do something about rising swipe fees that drive up the price of virtually everything consumers buy,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. “It’s not just unions calling out for relief. In the past few weeks, we’ve seen swipe fee reform endorsed by groups as diverse as military base stores, Native American tribes and the National Association of Blind Merchants. And merchants in every state have written to their senators asking them to support the Marshall-Durbin Amendment. This shows the depth and breadth of support for swipe fee reform.”
Since mid-May, the CCCA has been endorsed by the Coalition of Large Tribes, which represents the nation’s largest Native American tribes; the American Logistics Association, which represents military commissaries and base exchanges, and the National Association of Blind Merchants. In addition, the National Federation of Independent Business and other groups have sent key-vote letters to the Senate calling for approval of the Marshall-Durbin Amendment. Those endorsements come in addition to support from almost 2,000 companies and nearly 300 trade associations as well as a broad group of consumer, labor and pro-competition organizations.
Credit and debit card swipe fees – which have risen 70% since the pandemic and reached a record $187.2 billion in 2024 – are most merchants’ highest operating cost after labor. The fees are far too high to absorb, especially for small merchants, and drive up consumer prices by nearly $1,200 a year for the average family. Swipe fees paid in each state and the amount that would be saved under the CCCA are available here.
Visa and Mastercard – which control 80% of the market – each centrally set the swipe fees charged by banks that issue cards under their brands, and also block transactions from being processed over other networks that could do the job with lower fees and better security. The legislation would require banks with at least $100 billion in assets to enable cards they issue to be processed over at least two unaffiliated networks – Visa or Mastercard plus a competitor like NYCE, Star or Shazam.
Banks would choose which networks to enable but merchants would then choose which to use, resulting in competition over fees, security and service that is expected to save merchants and consumers $17 billion a year. Rewards would not be affected, security would be improved, consumers would still use the same cards, and community banks and all but one credit union would be exempt.
About MPC
The Merchants Payments Coalition represents retailers, supermarkets, convenience stores, gasoline stations, online merchants and others fighting for a more competitive and transparent card system that is fair to consumers and merchants. Follow MPC on Twitter, Facebook or LinkedIn for the latest on swipe fees.