Don't Let Washington Break What's Already Working for Wyoming's Small Businesses

By Dale Steenbergen, President & CEO, Greater Cheyenne Chamber of Commerce & Wyoming Chamber of Commerce

I've spent 18 years leading the Greater Cheyenne Chamber of Commerce and have the privilege of serving Wyoming's business community at the state level as well. In both roles, I've spent my career fighting for the small businesses that make our communities 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.

What Are the Durbin-Marshall Mandates?

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.

What's at Stake for Wyoming Small Businesses

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.

There's Already a Better Path Forward

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.

The Cheyenne Chamber of Commerce applauds Senators Barrasso and Lummis for standing up for small businesses across our state. On behalf of Wyoming's small businesses, I urge Senators Barrasso and Lummis to speak out against the Durbin-Marshall credit card mandates.