answer the credit card competition act, a bipartisan bill i introduced last year with republican senator roger marshall of kansas wouldmuch-needed competition into the credit card market and break the visa and mastercard strong hold. here's what our bill says. if a bank with $100 billion or more in assets want to issue a credit card on the visa or mastercard network, it would have to offer a second network other than visa or mastercard to process the transaction. that's known euphemistically as competition. in a way, merchants will finally have a choice. if visa or mastercard offers the best service or security for the cost the merchant can use it. but if the other network offers a better deal the merchant can choose that instead. that's known as competition. by forcing visa and mastercard ua merchants' business we're aiming to end the cycle of increasing interchange fees that's breaking the small businesses. and as you can imagine, visa mastercard and their big bank partners don't like our bill. the bill is expected to save merchants and consumers $15 billion every year in interchange fees. t