Bipartisan legislation being filed in the United States Senate would lower the fees that restaurants and other retailers pay to process credit card transactions. The legislation, S.4674, sponsored by Senators Roger Marshall (R-KS) and Senate Majority Whip Dick Durbin (D-IL), would require that the largest bank credit cards (over $100 billion in assets) provide at least two networks that can be used to process electronic credit-card transactions with the belief being that such a requirement would introduce more competition to the credit card market, currently dominated by VISA and Mastercard. As is already the case with regard to debit cards, The Credit Card Competition Act of 2022, as it is called, would give retail outlets more options on how they choose to process credit cards. According to a press release from Durbin’s office, having that choice would foster more competition for credit card processing and thereby lead to lower processing fees.