News
OCC preempts Illinois swipe fee ban on taxes, tips
5+ hour, 24+ min ago (675+ words) Critics of interchange fees say payment systems are opaque, making it impossible to know what interchange fees are charged on any given transaction. The Illinois Interchange Fee Prohibition Act, signed into law by Governor J. B. Pritzker in 2024, would bar banks and…...
Illinois interchange law delayed, but risks for banks remain
10+ mon, 1+ week ago (512+ words) WASHINGTON " Illinois Gov. J. B. Pritzker signed a bill delaying the implementation of a ban on interchange fees on taxes and tips, a measure that bank groups have strongly opposed since the state law was passed last year. The measure, which was…...