Swipe fee bill cosponsor Marshall defeated in reelection
- Key insight: Sen. Roger Marshall, R-Kansas, cosponsor of a bill requiring credit cards issued by large banks to be operable on at least two payment networks that banks opposed, lost his bid for re-election.
- Forward look: A Democratic sweep means the party has time to find a successor to the bill’s other sponsor, retiring Sen. Dick Durbin, D-Ill,
WASHINGTON — Sen. Roger Marshall, R-Kansas, was unseated by Democrat Adam Hamilton, a Methodist minister, in an upset race that will see the first Democrat senator from the state in almost a century.
Processing Content
Marshall is best known in the banking world for cosponsoring the Credit Card Competition Act, legislation that would require large banks to use at least one network that isn’t Visa or Mastercard.
Marshall sponsors the legislation alongside retiring Sen. Dick Durbin, D-Ill.
Both lawmakers’ departure will leave the legislation without primary advocates in the Senate. The future of the
The race was a rare one where the banking industry aligned against a Republican.
The Kansas Bankers Association has joined a roughly $1 million ad buy calling out Marshall for his sponsorship of the bill. The group put about $250,000 into the campaign and partnered with the Electronic Payments Coalition to argue that the proposals could have harmful effects on consumers and restrict access to credit cards offered by community banks.
