Senate Judiciary Committee Chairman Dick Durbin (D-Ill.) scheduled a hearing for Tuesday, Nov. 19, on his ICBA-opposed bill to create credit card routing mandates.

ICBA View: ICBA strongly opposes the Credit Card Competition Act (S. 1838/H.R. 3881), which would allow large merchants to route credit card transactions on the network that is least costly to them without regard to safeguarding consumer information.

ICBA Advocacy: ICBA this year:

  • Penned a joint op-ed that said the legislation would allow large retailers to undermine consumers’ financial security.

  • Released polling that shows Americans oppose the legislation, saying it is risky and would make transactions less secure.

Grassroots Alert: Community bankers can continue using ICBA’s Be Heard grassroots action center to urge their senators to oppose the legislation.