Senator Dick Durbin may be retiring, but his crusade against consumer freedom and financial innovation continues. Even with the clock running out on his decades-long career in Washington, the Illinois Democrat is still clinging to his misguided push for the so-called Credit Card Competition Act (CCCA) — a bill that would do far more harm than good.
Durbin wants to force credit card issuers to allow multiple processing networks on every card — a direct hit on Visa and Mastercard, which currently handle the lion’s share of transactions. He claims this would foster competition and lower fees for merchants. But the truth is that this bill is just another Washington power grab that will put small banks, credit unions, and consumers at risk — all while lining the pockets of big-box retailers.
Let’s be clear: this isn’t about competition. It’s about control. The same retailers who already benefited from Durbin’s infamous 2010 amendment to the Dodd-Frank Act — which gutted debit card rewards and did nothing to lower prices for consumers — are now back for another handout. Groups like the National Retail Federation and National Restaurant Association have backed this bill from the beginning, hoping to slash their costs without passing a dime in savings on to everyday Americans.
And just like the last time, it’s hardworking families who will pay the price.
Durbin’s bill would undermine the credit card rewards programs that millions of Americans rely on — the travel points, cashback offers, and other benefits that have become standard in a competitive marketplace. It would also weaken fraud protection by steering transactions away from the most secure, battle-tested networks and toward unproven alternatives.
This isn’t free-market reform — it’s government-mandated interference. And it’s telling that many Republicans, like House Financial Services Chairman French Hill, are refusing to take the bait. As Hill recently said, “This isn’t the way to resolve it.” Congress shouldn’t be in the business of picking winners and losers between retailers and banks. The market works just fine without another top-down mandate from Washington.
In fact, opposition to the CCCA is growing among conservative voices who see it for what it is: a corporate giveaway disguised as reform. Groups like the Electronic Payments Coalition and the Bank Policy Institute have been sounding the alarm — and rightly so. This bill would inject instability into a system that, despite its flaws, provides safe, efficient, and rewarding services to consumers and businesses alike.
Perhaps most ironic is Durbin’s timing. With President Trump back in the White House and a Republican Congress focused on innovation — from cryptocurrency to stablecoins — Durbin’s tired agenda feels like a relic of the past. While the rest of the country looks ahead to financial modernization, Durbin is still trying to micromanage the checkout counter.
As he heads for the exit, Durbin should take his failed ideas with him. The Credit Card Competition Act isn’t about protecting consumers. It’s about expanding government, empowering corporate lobbyists, and once again punishing the very financial institutions that help drive our economy.
Republicans in Congress must stand firm and reject this last-ditch power play. Speaker Mike Johnson and House leadership should refuse to give this bill oxygen — and ensure that Durbin’s legacy doesn’t include another swipe at the American consumer.
It’s time to let the free market, not bureaucrats or lobbyists, shape the future of payments in America.
Alton Phillips - Louisiana
