A new federal bill could alter how cashback, airline miles, and travel points operate. The Credit Card Competition Act (CCCA) , supported by President Donald Trump and Vice President JD Vance, is designed to boost competition among credit card payment networks and decrease the fees merchants pay to process transactions. But banks warn the proposed changes could also affect rewards and benefits cardholders enjoy.

Trump renewed his support for the legislation on October 19 during a campaign appearance in Kansas for Senator Roger Marshall, one of the bill’s lead sponsors. The following day, the National Association of Convenience Stores (NACS) said Trump and Vance had publicly endorsed the measure seven times this year.

Supporters say credit card swipe fees are a big financial burden for retailers, including small businesses and convenience stores. They think that adding more payment networks to the mix would reduce processing costs and maybe save businesses some money.

Close up of a stack of credit cards.…