US EditionGuard Your Card Illinois: Illinois General Assembly Delays Implementation of Flawed Interchange Fee Prohibition Act
- The Illinois General Assembly postponed the start date for the Interchange Fee Prohibition Act, moving its enforcement to July 1, 2026.
- The delay follows federal court challenges and a last-minute, undebated provision in the state's budget package that granted partial injunctions exempting federally chartered banks.
- The law, untested globally and lacking workable technology, could force complex payment processes and disrupt credit and debit card use statewide, impacting consumers and small businesses.
- A study estimates a $118 million reduction in interchange fees, with large retailers gaining nearly 40% of the benefits, while small businesses face economic burdens and limited payment options.
- Stakeholders urge full repeal of the flawed law to prevent harm to over one million small businesses and protect local economies, describing the extension as a cautious but insufficient step.
48 Articles
48 Articles
Amid court battle, lawmakers look to push back ‘swipe fees’ ban
SPRINGFIELD – Illinois lawmakers have decided to delay a ban on “swipe fees” for another year as bankers are locked in a court battle with the state over the ban. Lawmakers passed the Interchange Fee Prohibition Act last spring as part of the legislative package that enacted the state budget. It prohibits financial institutions from charging fees on the tax and tip portions of credit and debit card transactions. The rest of the transaction, incl…
Colorado Springs Gazette
Illinois’ swipe fee law put on hold while being challenged in court
(The Center Square) – Banking groups are applauding the news that Illinois’ controversial Interchange Fee Prohibition Act is being placed on the back burner for a year. The law would prohibit interchange fees from being charged on portions of credit…
Amid challenge from banks, Illinois legislators move to delay ban on certain credit card fees – Chicago Tribune*
Gov. JB Pritzker Sunday said that while the delay wasn’t his initiative, he anticipated the interchange fee issue “will probably get resolved over the next year” as it is currently with the courts.
Chicago Tribune
UpstractAmid challenge from banks, Illinois legislators move to delay ban on certain credit card fees
Illinois legislators voted to delay for one year a ban on certain credit card fees that was set to take effect July 1 amid a legal challenge by banks. A measure passed by legislators and signed into law by Gov. JB Pritzker last year would prevent banks and credit card companies from charging retailers a small fee on sales taxes and tips. Pritzker still has to sign off on the legislature’s move to extend the deadline to July 1, 2026. Pritzker on …
Journal Gazette & Times-Courier
Guard Your Card Illinois: Illinois General Assembly Delays Implementation of Flawed Interchange Fee Prohibition Act
Small Businesses, Local Financial Institutions and Consumers Temporarily Spared From Chaos While Federal Court Challenge Continues to Dismantle This Misguided Policy
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