Electronic Payments Coalition Opposed Swipe-Fee Proposal

The trade group launched a campaign attacking the proposed Credit Card Competition Act and past federal mandates.

Updated on Oct. 6, 2026 in Credit Cards

Isometric editorial illustration of a brass-colored credit card payment terminal slot rendered in matte, minimalist geometric shapes. — The Electronic Payments Coalition has initiated a new lobbying campaign against the proposed Credit Card Competition Act, citing concerns over swipe-fee regulation. AI Illustration. Upload story photo >

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The Electronic Payments Coalition has launched the 'Fool Me Once' campaign to oppose the bipartisan Credit Card Competition Act in Congress. The group argues that government intervention in credit card fees remains a policy failure.

Why it matters

The coalition argues that government-mandated fee caps hurt financial stability, while retailers contend that the proposed legislation is necessary to lower transaction costs for businesses.

The Durbin Amendment, established as part of the 2010 Dodd-Frank Act, currently caps interchange fees for banks with more than $10 billion in total assets. This regulatory framework has been in place for 15 years.

The players

Electronic Payments Coalition

This trade association represents the interests of card networks and financial institutions regarding payment policy.

Dick Durbin

He is a U.S. Senator from Illinois who sponsored the 2010 amendment that caps interchange fees for large financial institutions.

The details

The coalition released a report titled '15 Years Later, the Durbin Amendment Remains a Policy Disaster' to bolster their campaign. Retailers continue to lobby for the Credit Card Competition Act to reduce transaction costs that they currently face on customer purchases.

The Dodd-Frank Wall Street Reform and Consumer Protection Act passed in 2010.
The Durbin Amendment took effect in 2011.
The Electronic Payments Coalition launched its campaign in October 2026.

Market Landscape

This campaign signals an escalating conflict between financial service providers and retailers over the future of payment processing costs. The industry remains split as both sides vie for influence over legislative changes that could reshape national credit card economics.

The potential passage of the Credit Card Competition Act could influence the transaction costs that retailers pass on to customers at the register. Cardholders may see changes to rewards programs or fee structures if financial institutions alter their models to adapt to new regulations.

The takeaway

Advocacy groups are intensifying their lobbying efforts to frame current fee regulations as detrimental to long-term market efficiency. Consumers should monitor how these legislative shifts affect the credit card products and benefits currently available to them.