FOR IMMEDIATE RELEASE
Contact: J. Craig Shearman
(202) 257-3678 craig@shearmancommunications.com
WASHINGTON, Nov. 1, 2026 — The Merchants Payments Coalition tonight welcomed President Donald Trump’s newest call to pass the Credit Card Competition Act.
“If you reelect Roger Marshall I will sign his bill … limiting out of control … credit card swipe fees, saving you an estimated at least $2,000 per year,” Trump said. “That’s a big thing … it’s important.”
Trump’s remarks came during a rally held tonight in Salina, Kan., where he repeated his previous endorsement of Sen. Roger Marshall, R-Kan., the lead sponsor of the CCCA.
“Whether it’s President Trump or Vice President Vance, White House endorsements of swipe fee reform just keep coming,” MPC Executive Committee member and National Association of Convention Stores General Counsel Doug Kantor said. “But this is not just a White House effort. Affordability is a key issue right now, and members of Congress from across the political spectrum agree that it’s time to stand up for Main Street and bring these fees under control. Regardless of what happens in this week’s elections, this is an issue where Republicans, Democrats and independents can work together to protect American families and small businesses against Wall Street greed.”
Tonight was the ninth time Trump or Vice President J.D. Vance has called for swipe fee reform. Trump first addressed the issue in January, saying the bipartisan CCCA is needed “to stop the out of control Swipe Fee ripoff,” and has increased his support with each endorsement. During a rally for Marshall outside Wichita last month, he praised “Roger’s bill to end these ripoffs” and issued a social media post saying “I will sign it into LAW!” Last week in Topeka, Vance, who cosponsored the CCCA with Marshall while a member of the Senate, praised Marshall for his work toward “breaking up the credit card cartels.”
The CCCA has growing support in Congress, where Senate Banking Committee members Sens. Bernie Moreno, R-Ohio, and Cynthia Lummis, R-Wyo., plus Sen. Angus King, I-Maine, became cosponsors in August. The three joined existing sponsors Marshall, Dick Durbin, D-Ill., and Peter Welch, D-Vt. In September, Rep. Tony Wied, R-Wis., became the latest House cosponsor, bringing the number of House backers to nine, led by Reps. Lance Gooden, R-Texas, and Zoe Lofgren, D-Calif.
Credit card and debit card swipe fees have risen 80% since the pandemic and hit a record $198.25 billion in 2025. They are most merchants’ highest operating cost after labor, driving up prices by more than $1,200 a year for the average family, with some estimates higher.
Swipe fees for U.S. Visa and Mastercard credit cards average 2.36% of the transaction, which is the highest percentage in the industrialized world and compares with a limit of 0.3% for credit cards and 0.2% for debit cards in the European Union.
The fees are rising because of lack of competition. Visa and Mastercard, which control 80% of the market, each centrally set the swipe fee rates charged by all banks that issue cards under their brands and also restrict processing to their own networks. The CCCA would address that by requiring banks with at least $100 billion in assets to enable credit cards to be processed over at least one unaffiliated network like Star, NYCE or Shazam in addition to Visa or Mastercard. The measure is expected to result in competition over fees, security and service that would save merchants and their customers $17 billion a year and result in the gain of 54,000 retail jobs in the first year.
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.
