Illinois’ pending swipe fee law on hold after court ruling

Published December 27, 2024 10:55am ET



(The Center Square) – An Illinois law banning banks and credit card companies from charging swipe fees on taxes and tips continues to play out in court.

A U.S. District Court judge has issued a preliminary injunction preventing the state from enforcing the Interchange Fee Prohibition Act on nationally chartered banks and savings institutions, but not on credit card companies and Illinois banks. That means, as of right now, the state can enforce the law on those institutions starting in July. 

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