Senate Agriculture Committee markup concludes without Marshall amendment

Credit union advocacy was successful in fighting an effort by Sen. Roger Marshall, R-Kan., to bring a revised version of the Credit Card Competition Act as an amendment to the Senate Agriculture Committee’s markup of a digital assets bill this week. During the markup, no discussion or amendments were raised on the issue. 

Marshall submitted the language late last week. America’s Credit Unions President/CEO Scott Simpson swiftly issued a statement and wrote an op-ed urging the Senate to wholly reject attempts to attach his bill to the Digital Commodity Intermediaries Act. At the same time, leagues and credit unions engaged directly with members of the Agriculture Committee in a targeted call to action. 

Following this quick deployment of targeted grasstops advocacy, news broke earlier this week that Marshall no longer intended to offer the language. The markup took place yesterday, and the bill advanced without mention of credit card processing mandates that would affect interchange. 

“Advancing cryptocurrency market structure legislation without attaching the Durbin–Marshall credit card mandates is a constructive step that keeps the bill focused on its intended purpose, and it’s a clear example of how the advocacy efforts of America’s Credit Unions, our League Partners, and the entire credit union system elevate the credit union voice when it’s needed most,” said America’s Credit Unions President/CEO Scott Simpson. “Payments policy has no place being jammed into digital asset legislation, especially through amendments that sidestep committee jurisdiction and thorough review. America’s Credit Unions will continue to oppose any effort to advance Credit Card Competition Act provisions and urge lawmakers to address complex payments issues through regular order, not legislative shortcuts.” 

America’s Credit Unions remains vigilant in working with leagues, credit unions, and industry stakeholders outlining why credit card mandates would do more harm than good. A targeted Credit Card Competition Act action alert is available in the Grassroots Action Center and remains in effect, though only credit union leaders/advocates are asked to take action at this time.