A Bipartisan Credit Card Bill Reintroduced In Congress to Foster Greater Competition

Credit cards as seen in Orlando, Fla., on July 1, 2021. John Raoux/AP

A new credit card bill that targets the monopoly of Visa and Mastercard over the credit card industry has triggered swift reaction from lobbyists.

A bipartisan group of lawmakers, led by Rep. Lance Gooden (R-Tex.), introduced new legislation that would significantly reform the credit card industry and create greater competition for the benefit of consumers.