article thumbnail

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.

Illinois 397
article thumbnail

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.

Illinois 400
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

Illinois 482
article thumbnail

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.

Illinois 246
article thumbnail

Durbin jumps into Illinois interchange law fray

Payments Dive

Dick Durbin threw his weight behind an Illinois law that would nix interchange fees on taxes and tips, supporting the edict in a court document filed Friday.

Illinois 243
article thumbnail

Illinois should abandon interchange law

Payments Dive

Illinois has made a hasty decision that, if implemented, would have government change our payments system that functions so well that we barely notice it,” writes a trade group CEO.

Illinois 221
article thumbnail

X lands money licenses in Illinois, New Mexico

Payments Dive

The social media platform is now nearly halfway to securing the state licenses needed to fulfill owner Elon Musk’s vision of a nationwide payments app.