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WASHINGTON D.C. – The National Lumber and Building Material Dealers Association (NLBMDA) applauds President Trump’s endorsement today of the Credit Card Competition Act. Championed by Sens. Roger Marshall (R-KS) and Dick Durbin (D-IL), the legislation would introduce competition into the credit card processing market by requiring large card networks to enable at least two unaffiliated networks on each credit card. This reform would provide LBM dealers greater choice in routing transactions and help reduce excessive and non-negotiable swipe fees.
“NLBMDA thanks President Trump for recognizing the burden excessive credit card swipe fees place on lumber and building material dealers and for endorsing a bipartisan solution to address it,” said NLBMDA President & CEO Jonathan Paine. “The Credit Card Competition Act would inject much-needed competition into a market dominated by just two networks, helping level the playing field for merchants while preserving consumer choice and security.”
NLBMDA has long advocated for swipe fee reform and most recently engaged in robust advocacy on the issue last month.
Growing and non-negotiable swipe fees increase costs throughout the supply chain and have quickly become one of the leading operational expenses for LBM dealers, trailing only labor. Credit Card swipe fees reached a record $187.2 billion in 2024, rising 70 percent since the start of the decade. President Trump’s endorsement underscores the growing momentum to address this issue and advance commonsense reforms that the LBM industry. NLBMDA, working alongside its strategic coalition partners, remains committed to working with Congress and the Administration to advance the Credit Card Competition Act this Congress.
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