Lance Gooden (R-TX)
Credit Card Competition Act of 2026
A Republican bill with 4 Democratic cosponsors · See all 8 cosponsors
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The Credit Card Competition Act of 2026 aims to amend the Electronic Fund Transfer Act to increase competition in credit card transactions. It requires the Board of Governors of the Federal Reserve system to create regulations that prevent card issuers or networks from restricting transactions to a single network. The bill prohibits exclusive networks and prevents routing restrictions that would stop merchants from choosing how their transactions are processed. Additionally, the Board must establish a list of networks that pose national security risks or are owned by foreign state entities. These regulations are intended to ensure that merchants can direct electronic credit transactions over various available networks without facing penalties.
Yes· 3 of 5
- Scored +6
Would business owners be better off under this?
The bill specifically empowers merchants to direct transaction routing and protects them from network-imposed penalties.
- Scored +5
Does this make it easier to run a small business?
The bill benefits merchants by allowing them to choose more competitive payment networks and preventing restrictive penalties.
- Scored +4
Does this give the federal government more power?
The bill expands the authority of the Federal Reserve Board to regulate private payment card networks.
The opposite
- Scored -5
Would billionaires be better off under this?
Large card issuers and networks face new regulatory restrictions and competition requirements.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Network Competition: The bill requires the Board to prescribe regulations so that a covered card issuer or payment card network cannot restrict a credit card to only one network (Section 2(a)(1)(A)). This could allow for more than one network to process a single credit card transaction.
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Freedom of Routing for Merchants: The bill prohibits card issuers or networks from inhibiting the ability of a person who accepts credit cards to direct the routing of electronic credit transactions to other available networks (Section 2(a)(1)(B)(i)).
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Protection Against Security-Based Restrictions: The regulations would prevent the requirement of specific security technologies, like certain authentications or tokenizations, that cannot be used by all networks that might process the transaction (Section 2(a)(1)(B)(i)(II)).
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Protection from Penalties: The bill prevents companies from imposing financial or other penalties on people for choosing to direct transactions through a specific network or for failing to meet certain transaction volume requirements (Section 2(a)(1)(B)(ii)).
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National Security Safeguards: The Board is required to create a public list of networks that pose a risk to the national security of the United States or are owned/operated by a foreign state entity (Section 2(a)(1)(D)).
Potential Negative Impacts for People
- Exclusion of 3-party Payment Systems: The competition regulations described in the bill do not apply to credit cards issued in a 3-party payment system model (Section 2(a)(1)(C)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this make it easier to run a small business? — The bill benefits merchants by allowing them to choose more competitive payment networks and preventing restrictive penalties. Does this give people more protection from unfair business practices? — Increased network competition may lead to more diverse options and better terms for cardholders.
- Governance And Ideology
- Does this give the federal government more power? — The bill expands the authority of the Federal Reserve Board to regulate private payment card networks. Does this make what the government does easier for the public to see? — The bill requires the establishment of a public list of networks posing national security risks.
- Demographic And Interest Groups
- Would business owners be better off under this? — The bill specifically empowers merchants to direct transaction routing and protects them from network-imposed penalties. Would billionaires be better off under this? — Large card issuers and networks face new regulatory restrictions and competition requirements.
- 9/15/2026
- 1 Cosponsor added.
- 6/29/2026
- 1 Cosponsor added.
- 2/9/2026
- 2 Cosponsors added.
- 1/23/2026
- 1 Cosponsor added.
- 1/20/2026
- 2 Cosponsors added.
- 1/13/2026
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Mark DeSaulnierDemocrat · California
Abraham HamadehRepublican · Arizona
Zoe LofgrenDemocrat · California
James McGovernDemocrat · Massachusetts
Thomas TiffanyRepublican · Wisconsin
Derek TranDemocrat · California
Jefferson Van DrewRepublican · New Jersey
Tony WiedRepublican · Wisconsin