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Senator Dick Durbin is poised to introduce legislation that would take another swipe at credit card giants Visa and Mastercard by mandating a minimum number of competitive networks be available for routing credit card payments. The proposed law is to be called the Credit Card Competition Act of 2022.
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“It’s very hard, even for the credit card industry, to object to having a basic level of competition, just like every other business has to deal with,” Kantor said of the new legislation.
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