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OCC seeks to halt Illinois card interchange fee law

Payments Dive

The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.

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Judge partially halts Illinois law ending card fees for taxes, tips

Payments Dive

Banks seeking to halt a new Illinois law that bars credit card interchange fees on taxes and tips succeeded on one front, but not another, at least for now.

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Illinois heads toward landmark card interchange fee restrictions

Payments Dive

The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.

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Durbin to reintroduce credit card competition bill

Payments Dive

The senate minority whip from Illinois plans to reintroduce the Credit Card Competition Act proposal in a bid to increase competition for Visa and Mastercard.

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Banks bash Illinois trend-setting law on card swipe fees

Payments Dive

Banks and credit unions are trying to kill a new Illinois law banning interchange fees, with a court filing, as multiple states seek to emulate the legislation.

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State interchange fee legislation makes meager progress

Payments Dive

In the wake of Illinois being sued over its landmark law exempting state taxes from the calculation of card interchange fees, other states are making little progress with the idea.

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For Discover, inflation brings sales growth, salary pressure

Payments Dive

Riverwoods, Illinois-based Discover Financial Services on Thursday reported first-quarter card sales volume was 23% higher than the same period last year, but CFO John Greene said "it’s hard to envision year-over-year sales growth to continue in the upper 20s."

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