# 119-hr-7035: Credit Card Competition Act of 2026

119-hr-7035, Credit Card Competition Act of 2026, is a 119th Congress bill sponsored by Rep. Gooden, Lance [R-TX-5] (R-TX); status introduced; PRIA reads it as touching household money (as of 2026-09-17).

- Canonical: https://policyrisk.com/legislation/119-hr-7035
- As of: 2026-09-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-7035
- Congress: 119
- Title: Credit Card Competition Act of 2026
- Status: introduced
- Introduced: 2026-01-13
- Sponsor: Rep. Gooden, Lance [R-TX-5] (R-TX)
- Cosponsors: 8
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-09-17

## Summary

This bill would create a Fed-led regime to **promote competition in credit-card network selection and routing** by banning exclusive or restricted network ties. It would also require the Federal Reserve to publish a public list of networks tied to foreign states or posing national-security risks and to reassess which networks dominate periodically. - Large card issuers. Covered card issuers with affiliates holding more than $100 billion in assets would be barred from restricting how many networks can process a credit transaction. The Fed would set three allowed network configurations and must check every 3 years whether the two largest networks have changed. - Payment card networks and processors. Networks could not block routing to networks off the Fed’s list, force exclusive security technologies that other networks cannot use, or penalize parties for directing transactions to particular networks. - National-security screening and enforcement. The Fed, with the Treasury, would publish and update at least every 2 years a public list of networks owned by foreign state entities or posing national-security risks. The Bureau of the Fiscal Service would not have enforcement authority over these rules.

## Cosponsors (8)

- Rep. Lofgren, Zoe [D-CA-18] (D-CA), 2026-01-13T00:00:00.000Z
- Rep. Tiffany, Thomas P. [R-WI-7] (R-WI), 2026-01-20T00:00:00.000Z
- Rep. Van Drew, Jefferson [R-NJ-2] (R-NJ), 2026-01-20T00:00:00.000Z
- Rep. Tran, Derek [D-CA-45] (D-CA), 2026-01-23T00:00:00.000Z
- Rep. Hamadeh, Abraham J. [R-AZ-8] (R-AZ), 2026-02-09T00:00:00.000Z
- Rep. DeSaulnier, Mark [D-CA-10] (D-CA), 2026-02-09T00:00:00.000Z
- Rep. McGovern, James P. [D-MA-2] (D-MA), 2026-06-29T00:00:00.000Z
- Rep. Wied, Tony [R-WI-8] (R-WI), 2026-09-15T00:00:00.000Z

## Provisions PRIA read

- Consumer Bureau cannot enforce rules: cost, medium. If enacted, the bill would provide that the Consumer Financial Protection Bureau may not enforce the new competition and routing requirements or the Board's regulations under this section. That restriction would take effect upon enactment.
- More network competition for card transactions: mixed, high. If enacted, the bill would require the Federal Reserve Board to write rules within one year and for those rules to take effect 180 days after the Board issues final regulations. The rules would bar covered card issuers and payment card networks from limiting how many networks can process a credit-c…
- New definitions for card issuers: mixed, high. If enacted, the bill would add definitions that decide who the new rules cover. A "covered card issuer" would be any issuer and its affiliates with more than $100 billion in assets. The bill would define a three-party card model, make "electronic credit transaction" include card-not-present sales o…

## Related bills

- 119-hr-2102: Major Richard Star Act
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-1993: 25th Anniversary of 9/11 Commemorative Coin Act
- 119-hr-4669: FEMA Act of 2025
- 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act

## Sources
- [119-hr-7035 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/7035)

## Related
- [119-hr-2102: Major Richard Star Act](https://policyrisk.com/legislation/119-hr-2102)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-1993: 25th Anniversary of 9/11 Commemorative Coin Act](https://policyrisk.com/legislation/119-hr-1993)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-7035 (as of 2026-09-17).