Reasonably regulating payment processors is far from authoritarian.
If you are on a scale like Visa and MasterCard you're not just any private company anymore. Just those 2 companies control well over 75% of the US market alone. Not having access to a debit/credit card today will effectively block you from taking part in many aspects of modern life. It's absolutely reasonable to place stipulations on what they can and cannot do.
I don't disagree with your objective, it's the path you are taking to get there. Legislating obedience is authoritarian and is solution that many people love due to its simplicity.
Regulators love working with large businesses like your card duopoly, I don't think you will see much improvement.
