For fraud related risk they should still be considered a common carriers but may adjust rates for certain types of transactions or businesses, if, in good faith and backed by empirical data, they can demonstrate the monetary risk to the card processor, and that the increased transaction costs are aligned with the level of risk and are not punitive or discriminatory.

The key point here is ”good faith”.

I don’t want to disadvantage their business or make them absorb fraud costs, but I want all excuses off the table.

OTOH Visa and MasterCard testified in front of Congress a couple of months ago that they have >50% profit margins which indicates to me that there is a regulatory failure in antitrust here.