**News Flash: Visa and Mastercard Accused of Stifling Competition**

Consumer watchdog Accountable.US has released a report accusing Visa and Mastercard of operating as a duopoly to block competition in the debit and credit card payments sector. The report claims the two giants have spent over $80 million lobbying against legislation that would open the market to competitors.

Accountable.US alleges that this lack of competition leads to high swipe fees, burdening both consumers and businesses. The report also references a recent DOJ antitrust suit against Visa, highlighting the need for the Credit Card Competition Act, which aims to create a fairer marketplace.

The bipartisan Credit Card Competition Act, introduced by Senators Dick Durbin and Lance Gooden, has yet to be scheduled for discussion in the Senate.