WSJ News Exclusive | Senate Bill Takes Aim at Visa, Mastercard Credit-Card Fees

Two U.S. senators are preparing legislation that would give merchants power to process many Visa and Mastercard credit cards over different networks.

The bill, which could be introduced as soon as this week, aims to create more competition among U.S. credit-card networks, a sector where Visa and Mastercard have long dominated. Sen. Dick Durbin, an Illinois Democrat, and Sen. Roger Marshall, a Kansas Republican, are expected to introduce the bill.