As we regularly meet with federal and state lawmakers and industry trade groups and coalitions, we actively advocate for our collective best interests by engaging on policy matters that impact our businesses. Below are brief updates on various regulatory and legislative developments.
Rate caps appear unlikely
Earlier this year, there were calls for Congress to pass a one-year, 10% interest rate cap on all credit cards. While a few members of Congress have indicated support of such a bill, the majority of leadership in both chambers and respective operative committees have not supported the proposed legislation.
Credit Card Competition Act (CCCA) not expected to impact Bread Financial
The CCCA (also known as the Durbin-Marshall bill) was reintroduced in the U.S. Senate in January and aims to lower credit card swipe fees by requiring issuers with more than $100 billion in assets to allow transactions to be processed on at least two unaffiliated networks. Bread Financial operates below that threshold.
Regulatory environment remains collaborative
We are observing a regulatory environment that is more favorable toward and collaborative with banking institutions compared to the recent past.
We appreciate your continued trust and partnership as we navigate these complexities together and will continue to keep you informed of our perspective on the ever-evolving regulatory landscape.
About Bread Financial®
Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. Our payment solutions deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, technology, electronics, jewelry, home and specialty apparel through our co-brand and private label credit cards and pay-over-time products providing choice and value to our shared customers. Additionally, we offer Bread Financial general purpose credit cards and saving products that empower our customers and their passions for a better life.
Bread Financial proudly marks 30 years of success in 2026. To learn more about our global associates, our performance and our sustainability progress, visit breadfinancial.com or follow us on Instagram and LinkedIn.