Illinois heads toward landmark card interchange fee restrictions
Payments Dive
JUNE 7, 2024
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.
This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
PYMNTS
NOVEMBER 23, 2020
As for easing the path toward financial innovation, there’d always been some consideration of seeking a national banking charter, noted Cagney, especially as the company began building blockchain and blockchain applications over the past few years. “As Figure, said Cagney, can offer some of its products in New Yok — but not in, say, Illinois.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
PYMNTS
FEBRUARY 23, 2018
First National Bank of Omaha announced that it is not renewing a contract with the National Rifle Association (NRA) to offer customers an NRA-branded Visa card. First National Bank of Omaha offered two NRA cards with a $40 bonus and promoted it as “enough to reimburse your one-year NRA membership!”
Independent Banker
AUGUST 31, 2021
ICBA’s National Community Bank Service Award winners for 2021 demonstrate that when their local areas need support, community banks are there with innovative, compassionate and thoughtful responses. The community bank provided nearly 480,000 PPP loans totaling more than $13 billion to businesses across the nation. “I Assets: $2.3
PYMNTS
OCTOBER 26, 2016
At the state level, Illinois’ government has shown interest in delving into incorporating blockchain into how it does business. By signaling a willingness to explore these technologies, Illinois opens the door for partnering with the broad range of private-sector companies pioneering innovative solutions in this area.”. “By
ABA Community Banking
NOVEMBER 26, 2024
Old National Bancorp in Evansville, Illinois, has agreed to buy Bremer Financial in St. The post Old National in Illinois to buy Bremer Financial appeared first on ABA Banking Journal. Paul, Minnesota.
Bank Innovation
MARCH 22, 2016
The new auto loan product will initially launch in California, and is expected to be live in Illinois and Georgia by early in the second quarter, with a national rollout expected by the third quarter, according to Avant. Online marketplace lender Avant Inc.
FICO
MARCH 15, 2021
We recently announced our milestone 15th financial education event of this national program and we couldn’t be prouder of how much the program expanded in the last two years. In fact, our next virtual event will be in Chicago, Illinois on March 23rd. We’re excited for the future of the program.
PYMNTS
NOVEMBER 26, 2018
The Illinois Supreme Court is set to hear arguments that will help it determine when consumers can take action under the Biometric Information Privacy Act. The precise harm the Illinois legislature sought to prevent is then realized.”. Alphabet Inc.’s s Google is dealing with similar claims in federal court in Chicago.
PYMNTS
JANUARY 25, 2019
The Supreme Court in Illinois ruled on Friday (Jan. 25) that a teen can sue Six Flags amusement park over violation of an Illinois privacy law, in a case that could have repercussions for tech giants like Google and Facebook. It could potentially set a precedent and affect biometrics cases across the nation.
CFPB Monitor
JANUARY 19, 2021
On January 13, 2021, the Illinois legislature overwhelmingly passed SB 1792 (the “Act”), intended to, among other things, overhaul the state’s consumer finance laws. SB 1792 separately amends the Illinois Consumer Installment Loan Act and the Payday Loan Reform Act to apply this same 36% MAPR cap.)
PYMNTS
JULY 3, 2019
In the Midwest, the new banks reportedly include the Educational Community Alliance Credit Union in Ohio, the MidAmerica National Bank in Illinois, the Republic Bank of Chicago in Illinois and the State Bank of Waterloo in Illinois.
PYMNTS
FEBRUARY 10, 2020
Separately, Facebook has reportedly settled a lawsuit for violating laws in the state of Illinois tied to facial recognition technology, agreeing to pay a fine of $550 million. The Illinois law — on the books for more than a decade — sets parameters for the collection, use and storage of biometric information.
ABA Community Banking
NOVEMBER 26, 2024
Old National Bancorp in Evansville, Illinois, has agreed to buy Bremer Financial in St. The post Old National in Indiana to buy Bremer Financial appeared first on ABA Banking Journal. Paul, Minnesota.
PYMNTS
MAY 13, 2020
The average business has in excess of $10,000 in monthly expenses and barely enough cash on hand to survive a month, according to the National Bureau Of Economic Research ( NBER ). Researchers at the University of Illinois, Harvard Business School, Harvard University and the University of Chicago surveyed more than 5,800 SMBs May 9 to 11.
Banking Exchange
JUNE 10, 2021
Two community banks snapped by Simmons, while Illinois’ Heartland Bank looks to push into Iowa Community Banking Feature3 Feature Management M&A.
Abrigo
DECEMBER 4, 2015
Sageworks consultants have hosted and spoken at roughly two dozen regional and national events and industry conferences attended by hundreds of banking and credit union executives, regulators and industry professionals. See upcoming regional and national events hosted or attended by Sageworks here.
PYMNTS
SEPTEMBER 22, 2020
The financial institution said per the report that it would shutter approximately 100 locations throughout the nation, which would shrink its domestic offices to roughly 400. In addition, Illinois-based Byline Bank is to shutter 11 offices from the beginning of next year, Banking Exchange reported.
PYMNTS
AUGUST 24, 2020
The services are not currently registered as distinct entities, although they are provided to users in the nation. The social media firm purportedly contravened an Illinois state law via a “Tag Suggestions” functionality that enabled users to identify their friends from photos put on the platform in the past.
CFPB Monitor
JANUARY 30, 2023
Last year, Congress took up the discussion of a national 36% annual interest rate cap. Over the past few years, numerous states have imposed interest rate caps on consumer credit. In recent blog posts, we discussed the efforts of both Michigan and New Mexico to impose a 36% annual interest rate cap. Continue Reading
PYMNTS
JULY 7, 2020
But that number misses an unprecedented scope of scams connected to the coronavirus, according to John Breyault , a spokesman for the National Consumers League , the Washington, D.C.-based the Illinois-based insurance company, said the best offense is a good defense. based consumer advocacy group. “I
American Banker
OCTOBER 3, 2024
The OCC has filed a legal brief backing the banking industry's challenge to Illinois' Interchange Fee Prohibition Act, arguing the law would interfere with national banks' federal authority, fragment the national payment system and force banks to halt credit card usage in the state.
PYMNTS
JANUARY 4, 2017
As has been reported, Apple Pay is also available internationally in, among other nations, Australia, China, Hong Kong, Japan, Spain, the U.K. The total roster now claims more than 1,600 banks and credit unions domestically, said the site, even as 35 percent of retailers in the U.S. support Apple Pay. and Switzerland.
PYMNTS
FEBRUARY 17, 2020
is the holding company for BankFinancial, NA, a national banking association providing financial services to individuals, families and businesses through 19 full-service banking offices, located in Cook, DuPage, Lake and Will Counties, Illinois and to selected commercial loan, lease and deposit customers on a regional or national basis. .
PYMNTS
APRIL 16, 2020
The offering is now available from almost 2,000 stores in California, New York and Illinois, among other states, with plans to grow throughout the country in the months to come, according to an announcement. As it stands, Instacart partners with over 350 local, regional, and national retailers to provide delivery from over 25,000 stores.
PYMNTS
JUNE 13, 2019
is launching the Columbia National Credit program with its new CNC Card, according to a release by the company. The program will expand to Delaware and Pennsylvania later in June and then into Arizona and Illinois. Columbia Care, a medical cannabis company that has licenses in 15 jurisdictions in the European Union and the U.S.,
PYMNTS
JULY 13, 2020
June was the top month this year for such filings, with 131 overall, and many were filed in the hardest-hit states like Florida, Texas, California, New York and Illinois. The new law could prove to be a boon for the numerous smaller businesses looking to file for bankruptcy over the coming months due to pandemic-fueled economic difficulties.
PYMNTS
NOVEMBER 22, 2019
The document was signed by California’s Barbara Lee, Illinois’ Robin Kelly, and New Jersey’s Bonnie Watson Coleman along with as other lawmakers. The startup is also getting ready for a public listing next year and is aiming to take care of regulatory issues with different cities across the nation.
PYMNTS
APRIL 21, 2020
percent, mostly mimicking the national overall rates. Those states include California, Connecticut, Washington DC, Illinois, Louisiana, Michigan, New Jersey and New York. The union said in a release that the eight states without stay-at-home orders had seen credit spending declines of 29.5 percent and debit declines of 11.7
PYMNTS
FEBRUARY 6, 2018
Reuters reported news on Tuesday that banking regulators from seven states across the United States are working to, as the newswire reported, “streamline” the FinTech reporting process, with an eye on those tech firms having an easier road toward offering their products and services across the nation.
PYMNTS
NOVEMBER 27, 2017
According to The Wall Street Journal , Uber is also under investigation by the attorneys general of New York, Missouri, Massachusetts, Connecticut and Illinois. Attorneys general Eric Schneiderman of New York, Lisa Madigan of Illinois and George Jepsen of Connecticut are also looking into the matter.
PYMNTS
DECEMBER 26, 2019
An Illinois bill could aid both by making online marketplaces responsible for tax collection on the third-party sales facilitated through their platforms. National Retailers On Staying Compliant When Tax Exemptions Are Only Statewid e. Around The Next-Gen Sales Tax Wor ld. Easing tax compliance helps governments and retailers alike.
Independent Banker
JUNE 30, 2022
American Bank, National Association. Classic Bank, National Association. The First National Bank In Sioux Falls. Dakota Community Bank & Trust, National Association. The Miners National Bank of Eveleth. The National Iron Bank. The First National Bank of Gilbert. 1st National Bank of Scotia.
PYMNTS
MARCH 13, 2018
In 2014, Amazon ’s Whole Foods became Instacart’s first national partner. Now, Instacart will count ALDI stores in greater Chicago — in areas as far as Rockford, Illinois — as part of its platform. To bring grocery delivery to more customers, two grocers are expanding their partnerships with Instacart.
Independent Banker
APRIL 30, 2022
Brazos National Bank. Douglas National Bank. FSNB, National Association. Pioneer Trust Bank, National Association. AMG National Trust Bank. HNB National Bank. Leader Bank, National Association. BNC National Bank. Stearns Bank National Association. Ed Avis is a writer in Illinois.
PYMNTS
NOVEMBER 29, 2017
Uber is now facing at least three potential class-action lawsuits , and is also under investigation by the attorneys general of New York, Missouri, Massachusetts, Connecticut and Illinois.
American Banker
JUNE 1, 2021
(..)
PYMNTS
JULY 16, 2020
So says Tim Barry , co-founder and CEO of VillageMD , which through its subsidiary, Village Medical, provides value-based primary care services by 2,800 physicians in 9 states including New Hampshire, Texas, Florida and Illinois. We know the cost of healthcare in this country should not be more than the cost of a mortgage, but yet it is.”.
PYMNTS
MAY 27, 2016
” To improve on its shrinking sales, the Illinois-based company announced plans to expand the distribution network of its top brands outside the Sears network. Similarly, our SHS business, which is the nation’s leading provider of in-home services, has greater potential than what we have delivered in the past.”.
PYMNTS
MARCH 12, 2019
can now have alcohol delivered in as soon as an hour from national, regional and local grocers as well as wine and liquor stores. Instacart, the online grocery company, announced Tuesday (March 12) it has expanded alcohol delivery for customers across the U.S. along with wine and liquor specialty stores like BevMo! ”
Banking 2020
JULY 15, 2015
Jim Bedinger, COO of Chicago Patrolmen’s Credit Union and CEO of National Police Credit Union , shares how he’s working towards reaching a targeted audience and community – police members and their families. In a few sentences could you please tell us a bit more about National Police Credit Union?
Abrigo
AUGUST 22, 2019
These are usually less expensive, shorter, and involve less extensive travel than the larger national conferences. 16 in Chicago, Illinois Oct. One option that makes it easy for BSA officers to complete required training is to attend regional meetings. For example, Abrigo is hosting regional seminars in six cities across the U.S.
PYMNTS
NOVEMBER 23, 2017
Attorneys general in Connecticut, Illinois, Massachusetts and New York said they were launching their own investigations. s National Cyber Security Centre to determine how large the breach was and how many people in the U.K. Meanwhile, in the U.K., The ICO plans to work with the U.K.’s were impacted by it.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content