ILLINOIS GOVERNOR APPROVES INTERCHANGE LAW DELAY

On Monday, Illinois Governor J.B. Pritzker signed HB742, which officially delays the effective date of the Interchange Fee Prohibition Act (“IFPA”) until July 1, 2026. See our ALERT of June 5, 2025. The
initial effective date for the IFPA was July 1, 2025, which was quickly approaching even as federal litigation over the legality of the statute is ongoing. The extension of the effective date will allow litigation to continue without requiring card issuers and networks to prematurely comply with the controversial statute…
Read More