Southwest Airlines is strongly opposing a recent congressional bill aiming to reduce credit card transaction fees, citing potential negative consequences for flyer miles programs in the United States. The proposed Credit Card Competition Act, introduced by Senator Dick Durbin from Illinois, aims to mandate major American banks to provide businesses with alternative payment networks, apart from Visa or Mastercard, for credit card transactions. Durbin argues that Visa and Mastercard hold a dominant position in the US, controlling more than 80% of such transactions and charging swipe fees of approximately 3%. These fees are often passed on to consumers through increased prices. By promoting market competition, Durbin hopes to lower these fees. However, airlines like Southwest argue that the bill would substantially reduce the revenues of payment networks like Visa and Mastercard, leading to reduced incentives for offering attractive loyalty rewards programs. United Airlines CEO, Scott Kirby, has also voiced criticism against the bill, asserting that it would essentially eliminate rewards programs.