Vance cool on credit card bill, lobbyists say

Another phony populist.


BY: ELEANOR MUELLER, ZACHARY WARMBRODT | 07/17/2024 05:13 PM EDT


Supporters of legislation that's intended to reduce credit card swipe fees for merchants may have lost a key ally — Sen. J.D. Vance.

The Ohio Republican’s staff has told at least two lobbyists that he will not advocate for the Credit Card Competition Act, a bipartisan bill that would target Visa and Mastercard’s dominance over the credit card industry by cracking down on the fees.

The vice presidential nominee signed on to the legislation from Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.) last summer.

But since then, Vance has "backed off a little bit of his misguided support for that,” Rep. Andy Barr (R-Ky.), who chairs House Financial Services’ financial institutions panel, said in an interview in Milwaukee this week during the Republican National Convention.


Both lobbyists were granted anonymity so they could discuss private conversations.
https://subscriber.politicopro.com/article/2024/07/vance-cool-on-credit-card-bill-lobbyists-say-00169011