Credit Card Competition Act

The Credit Card Competition Act would generally prohibit credit card issuers from restricting the number of payment card networks on which an electronic credit transaction may be processed. Specifically, the Board of Governors of the Federal Reserve System must prohibit certain credit card issuers with assets of over $100 billion from restricting the number of networks on which credit card transactions may be processed to one network, two or more networks operated by affiliated networks or persons, or the two networks with the largest market share of credit cards issued.

NSGA supports the Credit Card Competition Act as it helps to reduce operating expenses for sporting goods retailers and team dealers.  NSGA further supports efforts to end market dominance and advocates for an equitable marketplace.

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The Credit Card Competition Act was introduced on 06-07-23