I've spent 18 years leading the Greater Cheyenne Chamber of Commerce, fighting for the small businesses that make our community and our state strong.
Over the years, small businesses here have faced a slew of challenges ranging from rising costs and supply chain challenges, to figuring out how to navigate city, state, and federal regulations.
The last thing small businesses should have to worry about is lawmakers in Washington creating new challenges by trying to change systems that already work. Yet that's exactly what the backers of the Durbin-Marshall credit card routing mandates are trying to do.
The lawmakers pushing these mandates say their plan will lower credit card processing costs by forcing new payment networks into the market.
What they don’t mention is that their plan would lead to devastating consequences for small business owners because it would hurt the credit card security and rewards programs they rely on.
The Durbin-Marshall credit card routing mandates would force banks to route credit card transactions over networks that most consumers and small businesses have never heard of.
These newer networks typically do not invest nearly the same level of resources in fraud prevention or cybersecurity as the ones folks rely on today.
That means making this switch would make the entire electronic payments system less safe.
When fraud happens as a result of these mandates, it’s the small businesses that can least afford it who will be left holding the bag.
A single fraudulent transaction is all it takes for a small business to lose a loyal customer.
The Durbin-Marshall credit card routing mandates would also slash the credit card rewards so many small businesses count on to manage tight margins.
Right now, about one in ten of all credit card rewards goes to small businesses. Whether it’s purchasing inventory, repairing equipment, or covering seasonal slowdowns, credit card rewards often help bridge the gap.
If Congress forces new payment networks into the system, the revenue that funds these rewards programs would dry up, leading to small businesses losing an estimated $1 billion in rewards, according to a University of Miami study.
At a time when small businesses are already facing so many challenges, any policy that would take away vital resources that help them stay competitive is deeply misguided.
What makes this even more frustrating is that Congress has no reason to mess with the payment system at all.
In November 2025, Visa and Mastercard reached a proposed settlement with a group of small businesses.
The agreement, which a judge still needs to approve, is expected to lower credit card processing costs over the next several years without putting at risk credit card security or rewards programs.
Wyoming's small businesses don't need Congress to destabilize the payment system they use every day.
What they need is lower costs, stability, and for Congress to work on policies that would support their ability to succeed.
On behalf of Wyoming's small businesses, I urge Sens. Barrasso and Lummis to speak out against the Durbin-Marshall credit card mandates.
Dale Steenbergen is president and CEO of the Greater Cheyenne Chamber of Commerce
