Federal court partially upholds Illinois interchange fee law
By ABA Banking Journal Staff
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Operational Brief
- Federal court partially upheld an Illinois law on interchange fees for debit and credit card payments.
- The decision struck down the portion of the law that restricts the sharing of transaction data.
Why It Matters for Texas Credit Unions
The article does not mention Texas, TCUD, or any Texas-specific entities. It is focused on an Illinois state law and its legal outcome.
Who this most likely affects
Bounded site guidance: This item is most likely relevant for credit unions with retail consumer programs, deposit products, or frontline member-service exposure.
Why this fit: The source language points to consumer treatment, product, or disclosure practices.
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A federal court in Illinois partially upheld a first-of-its-kind state law restricting interchange fees for debit and credit card payments, striking down only the portion of the law that restricts the sharing of certain data obtained in transactions. ABA and the other plaintiffs plan to appeal the decision. The post Federal court partially upholds Illinois interchange fee law appeared first on ABA Banking Journal .