ABA-opposed credit card routing bill excluded from Senate defense spending bill

The Senate on Thursday passed a major defense spending bill without language attaching a separate, American Bankers Association-opposed credit card routing bill to the legislation. The Credit Card Competition Act by Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.) was reintroduced in Congress earlier this year after its sponsors failed to win support for the legislation last year. ABA and other financial sector associations successfully urged lawmakers to reject attempts by Durbin and Marshall to attach the legislation as an amendment to the National Defense Authorization Act, a must-pass bill that establishes annual appropriations for the Department of Defense.

The Senate passed a version of the NDAA without the amendment. However, the Senate version must now be reconciled with a version previously passed by House, providing CCCA supporters with further opportunities to attach their legislation to the defense bill.