Legislation lately getting the backing of the Trump administration would

give merchants the option to choose a different card network to process transactions when their customers use a credit card.

Banks object.

[They] say that the fees are what power credit-card rewards, like cash back and travel points, and that passing the bill would force them to change those programs consumers love.

The banks may be correct in that, but their beef also is irrelevant to the situation.

Offering those rewards (and finding the funds to pay for them) is a business decision subject to free market imperatives, not any sort of inherent right that wants government protection.