S.Amdt. 2229

This amendment is known as the Credit Card Competition Act of 2025. Its purpose is to change the Electronic Fund Transfer Act by adding rules about competition in credit card transactions.

The amendment aims to change the law by requiring the Board to prescribe regulations that stop covered card issuers and payment card networks from restricting the number of payment card networks on which an electronic credit transaction may be processed. It also aims to stop them from placing routing restrictions on transactions.

Specifically, the amendment aims to add rules that prevent card issuers and networks from limiting transaction processing to just one network, certain affiliated networks, or the two largest market share networks, with some exceptions determined by the Board over time.

Additionally, the amendment aims to add protections so that people who accept credit cards can direct the routing of transactions without facing penalties, disadvantages, or interference from exclusive security technologies that cannot be used by all available payment card networks. It also requires the creation of a public list of payment card networks that pose a national security risk or are owned by a foreign state entity.