Members of OHI leadership and 14 campground owners from across the United States convened in Washington, D.C., this week to advocate for the Credit Card Competition Act.
Partnering with the Merchant Payments Coalition, the delegation met with over 65 members of the U.S. Senate and House of Representatives, emphasizing the legislation’s potential to reduce costs for small businesses, including RV parks and campgrounds.
The Credit Card Competition Act seeks to address the lack of competition in the credit card swipe fee market. In 2023, U.S. merchants faced over $100 billion in credit card fees, primarily due to the dominance of Visa and Mastercard.
These fees, comprising interchange fees paid to issuing banks and network fees to the card networks, disproportionately affect small businesses, many of which are family-owned operations.
OHI’s advocacy highlights the burden these fees impose on both businesses and consumers. With little ability to negotiate these charges, small business owners often pass the costs to customers through higher prices.
“It was really exciting to be here along with my fellow campground owners and operators advocating with the OHI team for something that really matters to small businesses across the country like my small, family-owned campground,” Ashley Cary, owner of Hidden Acres Family Campground in Preston, Connecticut, said in a press release.
“It felt like we were really making a difference for our own businesses and for the industry,” Cary added.
During a November 19 hearing of the Senate Judiciary Committee, Chairman Dick Durbin (D-IL) underscored the challenges posed by Visa and Mastercard’s market dominance. “Help is on the way [for small business owners],” Durbin stated.
He emphasized the bipartisan nature of the Credit Card Competition Act, which he co-introduced with Senator Roger Marshall in July 2022. The proposed legislation would require the largest banks—those with assets exceeding $100 billion—to enable two competing networks on their cards, ensuring options beyond Visa and Mastercard.
The Credit Card Competition Act is poised to be a topic of debate in the 119th Congress, which convenes in January 2025. OHI’s advocacy during the current lame-duck session aims to influence lawmakers’ understanding of the issue and its broader implications for the outdoor hospitality sector.
“In advocating for the Credit Card Competition Act, our goal is to support legislation that promotes fairness and helps our industry thrive,” said OHI President and CEO Paul Bambei.
“As the national voice of the Outdoor Hospitality Industry, we’re committed to representing our members’ interests and ensuring their concerns are heard in Washington. We’re proud to stand with our members and give them a powerful voice on Capitol Hill,” Bambei added.
Featured image by OHI
