Visa Inc. faces a renewed legislative challenge from the Credit Card Competition Act (CCCA), which gained fresh endorsements from President Trump and Vice President JD Vance on October 8, 2026. The bill aims to break up what proponents describe as a duopoly dominated by Visa and Mastercard in credit card processing. [2, 5, 6, 7, 15]
The bill would require major card-issuing banks to offer merchants at least two unaffiliated payment networks, including at least one network other than Visa or Mastercard. [3, 4]
Supporters, including large retail groups, say greater competition over transaction fees—commonly called swipe fees—could lower costs for businesses and consumers. Those fees are a primary source of revenue for Visa. [1, 7, 11]
The payments industry argues that the legislation could weaken credit card rewards programs and security. The bill has been introduced in previous sessions, but the latest high-profile endorsements have reignited the debate and put pressure on Visa’s market position and revenue streams. [3, 6, 11, 12]