{"id":2362143,"date":"2024-10-31T10:58:55","date_gmt":"2024-10-31T14:58:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/controversial-swipe-fee-law-in-illinois-goes-to-court-washington-examiner\/"},"modified":"2024-10-31T11:00:34","modified_gmt":"2024-10-31T15:00:34","slug":"controversial-swipe-fee-law-in-illinois-goes-to-court-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/controversial-swipe-fee-law-in-illinois-goes-to-court-washington-examiner\/","title":{"rendered":"Controversial swipe fee law in Illinois goes to court &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcontroversial-swipe-fee-law-in-illinois-goes-to-court-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2362143&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The state of Illinois is facing\u200c a legal\u200c challenge regarding\u200d its recently enacted Interchange Fee \u200bProhibition Act, which limits banks from <a href=\"https:\/\/amzn.to\/3YuVZYV\">charging \u2062interchange fees<\/a> \u200don tax and tip revenues. This law, touted by Governor J.B. Pritzker as beneficial \u2063for retailers,\u200c is aimed at <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/waitress-gets-10000-tip-on-a-32-bill-but-one-week-later-gets-a-nasty-surprise\/\" title=\"Waitress receives k tip on  bill, but faces unpleasant surprise a week later\">providing \u200cfinancial relief<\/a> to workers, families, and businesses \u2063by capping the fees financial institutions can charge on\u200b transactions. However, the\u200c Illinois\u200d Bankers Association has \u2062filed \u200bfor\u200c an injunction to block the \u200dlaw from\u2063 taking effect, arguing \u200cthat it could undermine revenue streams. Supporters, including \u200cthe Illinois Retail Merchants Association, claim the law will offer much-needed \u200drelief to the state&#8217;s commerce. The case highlights a broader concern over the high fees charged by the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ever-tried-to-get-a-job-outside-of-their-fathers-business-hunter-biden-targets-trump-children\/\" title=\"\u2018Ever Tried To Get A Job Outside Of Their Father\u2019s Business?\u2019 Hunter Biden Targets Trump Children\">credit card industry<\/a>, with critics arguing that the law does not significantly address\u200b these charges.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Controversial swipe fee law in Illinois goes to court<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1869159\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash;&nbsp;Illinois is the only state that is moving ahead with a law that limits banks from charging interchange fees on tax and tip revenues, but the law was officially challenged in court Wednesday.&nbsp;<\/p>\n<div class=\"article-paywall\">\n<p>A group of organizations, including the Illinois Bankers Association, asked a federal judge for an injunction blocking the&nbsp;Interchange Fee Prohibition Act&nbsp;from taking effect next year.&nbsp;<\/p>\n<p>Gov. J.B. Pritzker has said the act was the best outcome for Illinois retailers, who will also be capped in the discount they get for collecting and remitting sales taxes.<\/p>\n<p>The Illinois Retail Merchants Association said the law would provide tangible relief to Illinois workers, families and businesses by limiting the fees financial institutions can charge on transactions.&nbsp;<\/p>\n<p>&ldquo;The U.S. credit card industry will still collect the highest fees in the world, even with the Illinois law in place,&rdquo; said National Association of Convention Stores General Counsel Doug Kantor. &ldquo;There is no justification for slowing the Illinois law from taking effect.&rdquo;&nbsp;<\/p>\n<p>On Wednesday, attorney Charlotte Taylor with the firm Jones Day argued that banks have a right to charge fees.<\/p>\n<p>&ldquo;They are providing the card holder with a service. They&rsquo;re going out and marketing their cards to card holders. They&rsquo;re taking on the liability of credit cards and the state of Illinois is saying that for every 10 cents for every dollar you aren&rsquo;t going to get paid for that which I think is extreme interference,&rdquo; said Taylor.&nbsp;<\/p>\n<p>The Office of the Comptroller of Currency, the agent in the U.S. Department of the Treasury that regulates banks, filed a brief that called the new law ill-conceived, highly unusual and largely unworkable.&nbsp;<\/p>\n<p>The Center for Legal Action for the American Free Enterprise Chamber of Commerce also filed an amicus brief. The brief laid out ways Illinois&rsquo; law would upend the principles of the National Bank Act of 1863, passed during the Civil War and designed to bring uniformity to the banking system.&nbsp;<\/p>\n<p>The Electronic Payments Coalition said the Illinois law is an example of troubling self-dealing by a state government.<\/p>\n<p>The law is set to take effect July 1, 2025, unless a court steps in and blocks the implementation of the legislation.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1869159\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1869159\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Illinois&#8217; swipe fee law faces court challenge (The Center Square) \u2013 Illinois is advancing a law that restricts banks from imposing interchange fees on tax and tip revenues, but it was challenged in court Wednesday. Organizations like the Illinois Bankers Association are seeking an injunction against the law<\/p>\n","protected":false},"author":1,"featured_media":2362144,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/Visa-Signature-scaled-1024x683.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[32417,6413,44081],"class_list":["post-2362143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-court-case","tag-illinois","tag-swipe-fees"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/Visa-Signature-scaled-1024x683.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2362143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2362143"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2362143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2362144"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2362143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2362143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2362143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}