Credit Card Competition Act of 2026
Sponsored By: Representative Gooden, Lance [R-TX-5]
Introduced
Summary
This bill would push for _more network choice and competition_ in credit card transactions. It would direct the Federal Reserve Board to ban exclusive network arrangements and restrict routing rules for large card issuers to open up processing options.
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 2 benefits, 1 costs, 2 mixed.
Public national-security network list
If enacted, the Board would have to publish a public list within one year naming payment networks whose processing it finds risks U.S. national security or that are owned or sponsored by a foreign state. The Board would consult with the Treasury Secretary when making the list. The Board would have to update the list at least every two years. Other parts of the bill would use this list to allow or block routing to specific networks.
More routing choices for merchants
If enacted, the Board would have to make rules within one year that stop large card issuers and payment networks from limiting which networks can process a credit-card payment. The rule would apply to "covered card issuers" (see definitions) and would not apply to cards in a 3-party payment model. The Board could temporarily allow only the two largest networks until it reviews market shares, and it must check every three years whether that exception still applies. The rule would also bar penalties or exclusive technical requirements that keep merchants from choosing eligible routing options.
No CFPB enforcement for these rules
If enacted, the bill would bar the Consumer Financial Protection Bureau from enforcing the new competition and routing requirements in this section or any Board rules under the section. The rules and Board regulations would still exist, but the Bureau could not bring enforcement actions under this authority. That would change who can enforce the new requirements.
Board rules take effect after 180 days
If enacted, each set of Board rules under this section would take effect 180 days after the Board issues the final version. The 180‑day delay would apply separately to each package of rules. The delay would give issuers, networks, and merchants time to prepare but would also postpone when merchants and consumers could see any benefits.
Who the rules cover and key definitions
If enacted, the bill would set key definitions when it takes effect. A "covered card issuer" would mean an issuer and its affiliates with more than $100 billion in assets. "Electronic credit transaction" would explicitly include card‑not‑present sales like online and mobile app purchases. The bill would also define who counts as a licensed member, including issuers and acquirers. These definitions would take effect on enactment and decide who other rules cover.
Sponsors & CoSponsors
Sponsor
Gooden, Lance [R-TX-5]
TX • R
Cosponsors
Lofgren
CA • D
Sponsored 1/13/2026
Tiffany
WI • R
Sponsored 1/20/2026
Van Drew
NJ • R
Sponsored 1/20/2026
Rep. Tran, Derek [D-CA-45]
CA • D
Sponsored 1/23/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov