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Senate Bill Takes Aim at Visa, Mastercard Credit-Card Fees

The Wall Street Journal | May require a subscription for the whole story.

Two U.S. senators are preparing legislation that would give merchants power to process many Visa Inc. V -1.23%▼ and Mastercard Inc. MA -1.34%▼ credit cards over different networks.

The bill, which could be introduced as soon as this week, aims to create more competition among U.S. credit-card networks, a sector where Visa and Mastercard have long dominated. Sen. Dick Durbin, an Illinois Democrat, and Sen. Roger Marshall, a Kansas Republican, are expected to introduce the bill.