A coalition of banks, credit unions, and card companies argue that Illinois lawmakers must repeal the state's first-in-the-nation Interchange Fee Prohibition Act, slated to take effect July 1.

When a merchant accepts credit card payments, it pays an interchange fee charged by the credit card company to process each card transaction. Interchange fees can chip away at a merchant’s bottom line ...

Companies that oppose the Interchange Fee Prohibition Act are appealing a ruling by a federal judge that upheld the law, which will be effective July 1.

Large merchants argued in a Monday court hearing that card surcharges and discounts would pose significant burdens on their ...

Earlier this week, the Northern District of Illinois upheld a prohibition on the collection of debit and credit card interchange fees for sales taxes, excise taxes and gratuities if the merchant ...

Gov. J.B. Pritzker says he hopes the federal government does what’s best for consumers and businesses as a Treasury Department agency moves to preempt an Illinois ...

Delaware House Bill 315 would ban swipe fees on credit card tips. Restaurants support it, while banks warn it could disrupt the payment system.