Political Quotes

“Madam President, I ask unanimous consent that the text of the bill be printed in the Record. There being no objection, the text of the bill was ordered to be printed in the Record, as follows: S. 1838 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Credit Card Competition Act of 2023''. SEC. 2. COMPETITION IN CREDIT CARD TRANSACTIONS. (a) In General.--Section 921 of the Electronic Fund Transfer Act (15 U.S.C. 1693o-2) is amended-- (1) in subsection (b)-- (A) by redesignating paragraphs (2), (3), and (4) as paragraphs (3), (4), and (5), respectively; and (B) by inserting after paragraph (1) the following: ``(2) Competition in credit card transactions.-- ``(A) No exclusive network.-- ``(i) In general.--Not later than 1 year after the date of enactment of the Credit Card Competition Act of 2023, the Board shall prescribe regulations providing that a covered card issuer or payment card network shall not directly or through any agent, processor, or licensed member of a payment card network, by contract, requirement, condition, penalty, technological specification, or otherwise, restrict the number of payment card networks on which an electronic credit transaction may be processed to-- ``(I) 1 such network; ``(II) 2 or more such networks, if-- ``(aa) each such network is owned, controlled, or otherwise operated by-- ``(AA) affiliated persons; or ``(BB) networks aff…”