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Regulatory Reform › Interchange Fees

Sheppard Mullin Richter & Hampton LLP

Illinois Delays Interchange Fee Ban by One Year

Sheppard Mullin Richter & Hampton LLP on

On June 1, the Illinois General Assembly passed a bill that, if enacted, will delay the effective date of the Interchange Fee Prohibition Act by one year, from July 1, 2025, to July 1, 2026. The law prohibits financial...more

Orrick, Herrington & Sutcliffe LLP

Illinois amendment to delay the effective date of its Interchange Fee Prohibition Act passes both chambers

Orrick, Herrington & Sutcliffe LLP on

On May 31, the Illinois General Assembly passed legislation to defer the effective date of the Interchange Fee Prohibition Act by one year until July 1, 2026. As previously covered by InfoBytes, Illinois originally enacted...more

Orrick, Herrington & Sutcliffe LLP

Washington State enacts provisions to allow companies to deduct interchange fees

Orrick, Herrington & Sutcliffe LLP on

On May 20, the governor of Washington State signed into law HB 2020 which amends the state’s tax laws to exclude interchange fees from the business and occupation tax. The legislation stemmed from a lawsuit where a company...more

Ballard Spahr LLP

Republicans ask federal banking agencies to withdraw rules, guidance

Ballard Spahr LLP on

Republicans on the House Financial Services Committee have sent letters to financial regulators asking them to rescind a variety of measures the regulators issued during the Biden Administration....more

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