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Castro-led ban on credit card ‘swipe fees’ upheld by federal court
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Castro-led ban on credit card ‘swipe fees’ upheld by federal court
ELGIN – State Senator Cristina Castro celebrated a federal court’s recent decision upholding the Illinois Interchange Fee Prohibition Act, paving the way for Illinois to become the first state in the nation to ban financial institutions from charging electronic processing fees on the tax and tip portions of credit and debit card transactions. “This initiative will benefit small businesses and consumers across the state,” said Castro (D-Elgin). “…
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