This week’s anticipated Senate action on the Credit Card Competition Act (CCCA) did not move forward as planned. While severe weather initially delayed the Senate Agriculture Committee’s markup of digital asset legislation, Senator Roger Marshall has since withdrawn his CCCA-related amendment from consideration.
The decision to pull the amendment reflects the significant advocacy pressure applied by credit unions and leagues nationwide, including direct outreach to congressional offices highlighting the potential negative impacts of interchange mandates on consumers and community-based financial institutions.
Although this development represents a near-term advocacy win, it does not signal the end of the interchange debate. Credit union advocates expect continued efforts to advance similar proposals through other legislative vehicles as Congress moves forward.
The earlier effort to advance CCCA language through the Agriculture Committee – which oversees the Commodity Futures Trading Commission (CFTC) and certain cryptocurrency matters – was widely viewed as procedural rather than policy-driven, aimed at using the markup process to revive momentum for a stalled bill. While that approach did not advance, the underlying policy discussion remains active.
Compounding these developments, Congress faces a government shutdown expected Friday if lawmakers do not reach agreement on a short-term funding measure, which could further compress the legislative calendar and accelerate action on unrelated policy priorities.
Credit unions are encouraged to:
- Stay alert for advocacy updates as Senate activity resumes
- Review league and national materials on the CCCA and related proposals
- Be prepared to support coordinated outreach if the legislation advances
Luminate will continue monitoring developments closely and provide guidance as advocacy opportunities arise.