Senate Majority Leader John Thune told reporters Tuesday the Senate will likely take up the Credit Card Competition Act at some point, a massive development that has sent bankers into a spiral.
Thune’s comments came after President Donald Trump gave a surprise endorsement to the bill from Sens. Roger Marshall (R-Kan.) and Dick Durbin (D-Ill.) Monday night. The proposal attempts to reduce swipe fees, and it’s the focus of a long-time war between banks and retailers.
“We’ve got people on both sides of that issue, but my assumption is at some point it probably gets voted on,” Thune said. “I think that’s what we do around here. We cast hard votes. We should be.”
