Sens. Roger Marshall (R-KS) and Dick Durbin (D-IL) are plotting to slip the credit card bill into the defense bill during the lame duck session.
Durbin, Senate Majority Whip; said He said Monday that he would like to propose a credit card bill, the Credit Card Competition Act, as an amendment to the must-pass National Defense Authorization Act (NDAA).
This is not the first time Durbin has attempted this strategy. Last year, he tried to slip distribution to major retailers into the NDAA. Like many of his and Marshall's schemes, it failed.
Mr. Durbin and Mr. Marshall continue to push for a credit card bill that would further expand payment processing by requiring banks to work with at least one alternative payment network other than industry leaders Visa and Mastercard. I hope it brings competition. Critics of the bill argue that it would not only significantly undermine the security of payment processing but also eliminate credit card rewards programs.
The Illinois Democrat chaired a Senate Judiciary Committee hearing on his bill on Tuesday, attended by executives from Visa, Mastercard and others.
The push for a lame-duck session comes even as Mr. Durbin considers retirement, as Democrats are expected to be in the minority next year.
Move to include Mr. Durbin's credit bill in the NDAA Continue This is because incoming Senate Majority Leader John Thune (Republican, South Dakota) called for swift passage of the defense bill.
Mr. Durbin's attempt to incorporate unrelated credit card bills into the NDAA has caused resentment among many senators.
A Senate Judiciary Committee staff member told Breitbart News: No one has approved any new amendments at this time. Who the hell does he think he is? ”
“What's even worse for Durbin is that no one in the Senate is willing to do him any favors. Democrats in charge of the judiciary are unhappy with how heavy-handed he has been with other members.” Some believe he has held the gavel for too long. He is also one of the most far-left lawmakers to block bipartisan compromise on the NDAA.
Breitbart News recently reported that Marshall, the main Republican sponsor of Durbin's credit card bill, announced in September that the Merchants Payments Coalition, a special interest advocacy group promoting Durbin's bill, would pay for it. It was reported that the radio advertisement was recorded at the company's expense.
Points Guy founder Brian Kelly said in March that the credit card bill would eliminate related benefits programs that Americans increasingly rely on in the Biden-Harris economy.
The Points Guy founder said credit cards are “very lucrative” for Americans, as some credit card companies offer more than $1,000 to sign up for a credit card, but this is more than the rest of the world. It doesn't exist anywhere.
Kelly said the latest credit card charges are “terrible for consumers.”
“At the end of the day, when you come and travel for national points, you're rattling a hornet's nest,” Kelly said at the American Bankers Association (ABA) Washington Summit in March. I have to,” he said.
“It's going to make travel even worse, which has been pretty tough these days. So what bill you want to pass is your legacy of taking value away from consumers and making it harder to travel and make life harder? Even though you are receiving it?”
Sen. Jon Tester (D-Mont.) also disputed claims that credit card charges would reduce costs. During the 2024 ABA Summit, Tester discussed issues with the bill.
He said there was a discussion on the subject “last time” in Congress and “we were told that doing this would save consumers money.”
Sens. Marshall and Durbin did not respond to requests for comment from Breitbart News.
Sean Moran is a policy reporter at Breitbart News. Follow him on X @SeanMoran3.
