Amjed Yacu, Special Digital Assistant at the United States Department of Defense, said that Democrats are undermining President Trump’s GENIUS Act with the Credit Card Competition Act, which he claims threatens credit card rewards and consumer benefits. The statement was made on X.
“Democrats are trying to hijack Trump’s GENIUS Act with the Credit Card Competition Act,” said Yacu. “Dick Durbin is leading the attack and would threaten credit card rewards.”
According to Congress.gov, the Credit Card Competition Act of 2023, introduced in the Senate as S.1838, aims to enhance competition in the credit card market by requiring larger financial institutions to offer at least two network options for transactions. The bill seeks to reduce merchant costs associated with credit card fees. Proponents argue that increased competition among networks could benefit consumers through lower prices.
The Electronic Payments Coalition noted that the Credit Card Competition Act of 2022 failed due to strong opposition from small financial institutions and credit unions, which argued it would reduce revenue used to fund fraud protection and consumer rewards. The coalition said that the legislation would have led to fewer choices and higher consumer costs. Additionally, they noted that it would have disrupted the existing payment infrastructure.
Airlines for America reported that the Credit Card Competition Act of 2023 could negatively impact Michigan’s travel and tourism industry. The organization argues that increased processing costs resulting from the bill might lead to higher airfare and reduced service availability. They state that such economic impacts could affect both consumers and local businesses reliant on air travel.
Yacu has served as a Special Digital Assistant at the United States Department of Defense since April 2025. He works full-time in Washington, D.C., supporting digital communications. His experience includes political campaign work and student leadership.
