Why it matters

The Electronic Payments Coalition (EPC) is mobilizing significant resources to prevent the reintroduction of the Credit Card Competition Act in the 119th Congress. The Act could lower interchange fees for merchants and consumers through increased competition. The EPC and its allies counter that it would compromise security, harm reward programs, and negatively impact smaller financial institutions.

By the numbers

  • $2,725,000: Total lobbying expenditure in Q4 2024;
  • $2,110,000: Amount spent on in-house lobbying efforts (77% of total);
  • 8: Number of external lobbying firms simultaneously engaged

The strategy

The coalition is employing a multi-firm approach.
Four firms have provided consistent service since at least 2020:

The coalition has strategically added firms in recent years, including Miller Strategies LLC ($110,000/quarter) in 2023 and Ballentine Strategies in 2024.

The issue

The Credit Card Competition Act (previously S. 1838 in the 118th Congress) would require large credit card issuers to offer merchants routing options beyond Visa and Mastercard networks.

Key players

Richard J. Hunt stands out as the EPC’s most influential lobbyist, bringing two decades of specialized expertise directly relevant to credit card regulation:

  • Securities Industry Association/Securities Industry and Financial Markets Association (2001-2009)
  • Consumer Bankers Association (2009-2022)
  • Electronic Payments Coalition (since 2023)

The bigger picture

The EPC’s advocacy extends beyond just the Competition Act to related regulatory areas:

  • Credit card interchange fees
  • Federal Reserve Regulation II (debit and interchange fee regulations)
  • Data security and privacy in payment systems

What’s next

The explicit focus on preventing the bill’s reintroduction suggests the EPC anticipates renewed legislative efforts in the current Congress. Organizations on both sides of the issue should prepare for a sustained and well-funded advocacy battle throughout 2025.