Capitol Fa - Your Illinois News Radar » Judge denies bid to extend swipe fee injunction to credit card companies, applies it to out-of-state banksCapitolFax.com

Judge declines to extend ‘swipe fee’ injunction to Illinois banks

A federal judge on Thursday declined to issue an injunction to stop an Illinois law that bans certain credit card fees from applying to credit card companies and Illinois banks. Credit and debit card ...

Banks opposing state’s landmark credit card fees law keep up arguments in court, Springfield

Financial services companies in Illinois are fighting a landmark state law on credit card fees in court and in Springfield as banks get closer to a July 1 implementation they say they’re not equipped to meet. “The rails are not built for this train to move on. Like, they are not constructed. They don’t even know — the engineering part is not done yet, let alone tracks laid down,” Ben Jackson, executive vice president of government relations at t…

Capitol Fa - Your Illinois News Radar » Judge denies bid to extend swipe fee injunction to credit card companies, applies it to out-of-state banksCapitolFax.com

* Bloomberg… Federally chartered credit unions will have to comply with an Illinois law banning “swipe fees” on taxes and gratuities, even as litigation seeking to block the law continues. The Illinois Interchange Fee Prohibition Act doesn’t conflict with the National Credit Union Act, Judge Virginia M. Kendall of the US District Court for the Northern District [...]

Szalinski: Judge declines to extend ‘swipe fee’ injunction to credit card companies

Ruling grants injunctions to national and out-of-state banks, denies it for Illinois banks By BEN SZALINSKI bszalinski@capitolnewsillinois.com Capitol News Illinois A federal judge on Thursday declined to issue an injunction to stop an Illinois law that bans certain credit card fees from applying to credit card companies and Illinois banks. Credit and debit card companies charge what are sometimes known as “swipe fees,” which are often paid by …