By Xavier Martinez

Shares of the world's largest payment networks fell after President Trump took to his Truth Social platform early Tuesday morning to endorse the Credit Card Competition Act. Visa dropped 4.5% in Tuesday trading, while Mastercard finished down 3.8%.

Most U.S. banks that issue credit cards pair up with one of the two major networks, Visa or Mastercard. When a person uses the credit card at a store, the merchant has to pay card-related fees, including a network fee.

The Credit Card Competition Act would, in part, require large credit-card issuers to let payments be processed on at least one alternative network. The legislation was reintroduced Tuesday morning by Sens. Roger Marshall (R., Kan.) and Dick Durbin (D., Ill.) after failing to progress past the Senate Banking Committee last Congress.

Durbin led a similar rule for debit cards over a decade ago. The Durbin amendment, part of the 2010 Dodd-Frank law, requires that merchants have the ability to choose from at least two unaffiliated debit-card networks when routing transactions.

Trump's endorsement came on the heels of his demand that credit-card companies temporarily cap interest rates at 10% by Jan. 20, a move that sent bank stocks tumbling on Monday.

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(END) Dow Jones Newswires

January 13, 2026 17:05 ET (22:05 GMT)

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